Our Corporate is highly regarded for its Equity Capital Markets (ECM) capability. We are the trusted advisers to some of New Zealand’s most innovative companies and to significant overseas investors into New Zealand, each of whom we advise regularly on complex and novel transactions in the ECM space.
Our ECM team prides itself on the depth of our expertise. We deliver results in a timely manner and on budget, making the process as smooth as possible for our clients. This is particularly important where the public is involved, whether as target shareholders, offerees or ultimate users of disclosure documents.
We can help with:
- Public takeovers
- Initial Public Offers (IPOs)
- Secondary capital raisings
- Private placements
- Employee share schemes
- Regulation investigations from NZX or FMA
- Listed company and day-to-day compliance matters.
We are renowned for setting trends in the New Zealand market, having advised on the first IPO under New Zealand’s overhauled securities legislation, on the first scheme of arrangement under new laws permitting their use for regulated takeovers, and advising and submitting to regulatory bodies on multiple legal and regulatory amendments.
We have excellent relationships with Government agencies regulating takeovers (the Financial Markets Authority, the Takeovers Panel, the Overseas Investment Office, and NZX) making the process easier to negotiate for our clients.
MinterEllisonRuddWatts are more commercial, better connected, more balanced and better at integrating into our team than others and, unlike others, they are always contactable and respond within the requisite timeframe to maintain deal momentum.
Chambers Asia-Pacific 2022
Recent highlights
Proposed takeover of Infratil by AustralianSuper
Advising NZX/ASX listed company Infratil on the takeover offers received from AustralianSuper, to acquire 100% of the shares in Infratil by way of a scheme of arrangement for a consideration of approximately $5.4 billion. Infratil is a large group controlling significant infrastructure assets, including Wellington Airport, Trustpower, Tilt and Vodafone NZ. The advice successfully allowed directors to maximise value for shareholders.
Tourism Holdings Limited merger with Apollo
Advising Tourism Holdings Limited (NZX:thl) on its recent entry into a Scheme Implementation Deed to merge with Apollo Tourism and Leisure Limited (ASX:ATL) through an Australian Scheme of Arrangement. This was the first takeover of an ASX listed company by a NZX listed company by way of a Scheme of Arrangement.
Refining NZ (now Channel Infrastructure) capital raising
Advising NZX listed Refining NZ (now Channel Infrastructure) on its $48.5 million private placement and share purchase plan to fund the provision of private storage services.
Tower capital return
Advising NZX and ASX listed Tower Limited on its $30.4 million return of capital to shareholders, which was structured as a court approved scheme of arrangement and required IRD approval.
NZ Merino restructure
Advising NZ Merino on its capital restructure comprising a constitutional change, a 3-stage capital raising (to shareholders, growers and new strategic investors) to support its future growth and financial stability during COVID-19, and a share buy-back aimed at its shareholders that have exited the merino industry.
Zespri capital restructure and buy back
Advising Zespri on its capital restructure and buy-back with a value of up to $1 billion. Zespri is a world leading horticultural company, and the targeted share issue and buy-back had the ambitious goal of strengthening grower ownership and control of Zespri.
Acquisition of Asaleo Care by Essity
Advising leading global hygiene and health company, Essity, on the New Zealand aspects of its acquisition (via scheme of arrangement) of ASX listed Asaleo Care, valued at AUD788 million. Included advising on the OIO approval process, given the significant business presence of the Asaleo Group in New Zealand.
Being part of the MinterEllison Legal Group means we are trusted advisers on numerous international transactions, and we are well placed to manage simultaneous work streams across multiple firms and jurisdictions.
So, when you need a pragmatic approach or would like to explore an idea, talk to us.
