Allens has advised Vocus Group, an Australian-based fibre and network solutions provider, on an acquisition for 100 per cent of its share capital by way of scheme of arrangement.
Macquarie Infrastructure and Real Assets (MIRA) and Aware Super comprised the consortium that agreed the take-private transaction for Vocus Group in a deal valued at approximately $3.5 billion.
Vocus Group owns and operates 30,000 kilometres of fibre network that is purpose-built and managed for business and government. The acquisition was approved by Vocus shareholders and the Supreme Court of New South Wales this week. It is expected to close on 22 July 2021.
Corporate Partners Guy Alexander and Mark Malinas led the Allens team on the acquisition. The deal builds on Allens’ long-standing relationship with Vocus Group over many years, including its acquisitions of Nextgen Networks and Call Plus, and merger with M2 Group.
Co-Lead Partner Mark Malinas said, ‘We congratulate Vocus Group and its Board on this significant milestone. Take-privates are never straightforward, and we are honoured to have advised Vocus on this transaction.’
General Counsel and Company Secretary of Vocus, Simon Lewin, led the internal legal team on the transaction.
‘The Allens team, as usual, provided us with outstanding support, and were able to cut through to the underlying issues and drive towards a commercial outcome. Their depth of knowledge of our business and the broader market was invaluable and enabled us to achieve a great outcome for Vocus shareholders,’ he said.
‘Our relationship with Allens goes back many years so I’ve always viewed them as an extension of the Vocus legal team. This transaction was no different, and it was a pleasure to again have them involved.’
Public M&A markets continue to be very active and Allens’ work on this transaction follows the firm’s advisory roles on Seven West Media/Boral and Crown Resorts, among other public market situations this year.