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Costas Condoleon is Minter Ellison's Deals Chair, with oversight of integrated client solutions for major M&A and ECM transactions. He is also one of Australia's leading strategic mergers and acquisitions and corporate lawyers, driving some of the largest, most complex and novel transactions in the Australian market.
Costas has advised on more than $100 billion worth of acquisitions, including friendly and hostile takeovers bids, schemes of arrangement, public to privates, privatisations and private treaty deals, backed by extensive experience dealing with all relevant regulators including the Takeovers Panel, ASIC, FIRB and ASX.
A corporate lawyer known for his detailed industry knowledge and technical expertise, he also advises on equity markets transactions, corporate governance and directors duties, foreign investment approvals, capital management initiatives and corporate and securities law.
Costas is recognised as a leading lawyer in his field in most independent guides, singled out for his ‘amazing legal mind’, his ‘commercial judgement’ and his tactical strength in public market M&A.
On 13 March 2015 TPG Telecom announced its proposed takeover of iiNet by way of a recommended scheme of arrangement. The cash consideration of $8.60 per share values iiNet at approximately $1.4 billion. TPG Telecom provides a diverse range of communication services to residential users, SMEs, government, large corporate enterprises and wholesale customers through nationwide ADSL2+, NBN, Fibre Optic and Ethernet broadband access, telephony services, Internet Protocol Television (IPTV), SIM Only Mobile plans and various business networking solutions. Its acquisition of iiNet, Australia's second largest DSL Internet Service Provider, will Increases TPG’s broadband subscriber base to over 1.7 million customers and deliver scale benefits in an NBN environment. The transaction, which will be immediately EPS accretive for TPG shareholders, will result in TPG having pro forma combined revenues of $2.3 billion and EBITDA of $654 million. Our team of Costas Condoleon and Michael Gajic, with support from Katrina Groshinski and John Mosley, and their respective teams, are acting for TPG on this exciting transaction. The iiNet shareholder meeting to approve the takeover by scheme is expected to be held in June.
Advising the New South Wales Government (NSW Treasury) on the refinancing of Port Botany and Port Kembla in NSW. The project is unique, involving the contemporaneous refinancing and long term lease of two major Australian ports. Our role includes extensive legal analysis of the existing assets and businesses and the regulatory landscape; recommending a transaction structure; drafting special transaction legislation; asset restructuring; preparing extensive interrelated transaction documents; tender process and negotiations; and implementation under legal project management. The project is complex and very significant for NSW.
Acted as legal adviser to TPG Telecom Limited on its acquisition of AAPT and Powertel (from Telecom New Zealand) for A$450 million.
Represented the Independent Board Committee of Yancoal Australia Limited regarding a pro rate renounceable rights offer of up to A$2.3 billion subordinated convertible notes.
Advising Vocus Communications on all aspects of its proposed acquisition of Amcom Telecommunications Limited to create the third largest provider of corporate telecommunications services in Australia. Vocus and Amcom are both ASX-listed telecommunications infrastructure providers with extensive fibre optic network and data centre assets which offer cloud and telco services to enterprise, government and corporate clients. Vocus services the east coast and Amcom services the west coast with very little overlap and the two businesses are regarded as being highly complementary. The acquisition will be implemented by way of a scheme of arrangement under which Amcom shareholders will be issued new Vocus shares in exchange for their Amcom shares, valuing Amcom at $653 million.