Vodafone Group Plc has today (July 31 2019) settled the sale of Vodafone
New Zealand Limited to a consortium comprising Infratil Limited and Brookfield
Asset Management Inc for NZ$3.4 billion - one of the largest New Zealand
M&A transactions on record.
Bell Gully, led by partners James Gibson
and Anna Buchly,
advised Vodafone Group Plc, while Buddle Findlay advised Infratil and
Brookfield.
James Gibson said that the transaction represents a significant
milestone for all the companies involved.
“We were delighted to have acted on this significant transaction for
Vodafone Group Plc as part of its plan to optimise its portfolio globally,” he
said.
The Vodafone New Zealand transaction also involved regulatory
approvals, including a clearance under the Commerce Act, and ongoing complex
commercial and technology arrangements as Vodafone NZ continues to be a partner
market of the Vodafone Group, with access to a range of services, including the
Group’s global IoT platform, involving Bell Gully’s full range of specialist
teams.
This sale is just one of several multibillion dollar transactions
that Bell Gully has acted on in the past year. The team led by James and Anna also
advised Apax Partners LLP on its NZ$2.56
billion takeover of Trade Me - the largest takeover undertaken
to date in NZ via scheme of arrangement. Partner Brynn
Gilbertson also led the firm’s team advising on Fletcher Building’s successful
sale of the Formica Group for US$840 million (NZ$1.2 billion), which settled
in June.
These significant transactions endorse Bell Gully as the “go-to”
firm for large-scale international M&A.
