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Costas Condoleon is MinterEllison'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 widely recognised as a leading lawyer in his field in independent guides, singled out for his ‘amazing legal mind’, his ‘commercial judgement’ and his tactical strength in public market M&A.
Advised TPG Telecom Limited on its capital raising in the form of an institutional placement to raise approximately A$300 million and an A$50 million share purchase plan.
Advised Vocus Communications on its $1.2 billion scrip based merger with Amcom Telecommunications Limited to create the third largest provider of corporate telecommunications services in Australia. Vocus and Amcom are infrastructure providers with extensive fibre optic network and data centre assets which offer cloud and telco services to enterprise, government and corporate clients.
Advised the decision-making Independent Board Committee of Yancoal Australia Limited in connection with its US$2.3 billion pro rata subordinated capital notes offer and balance sheet recapitalisation. This recapitalization was groundbreaking in the structure of the offer using subordinated capital notes, and the complex set of inter-linking arrangements implemented to shore up Yancoal's balance sheet and ensure its ongoing solvency.
Advised TPG Telecom on its takeover of iiNet by way of contested, recommended scheme of arrangement. The acquisition of iiNet, Australia's second largest DSL Internet Service Provider, has increased TPG’s broadband subscriber base to over 1.7 million customers and made it the third force in Australia's telecommunications landscape.
The sole legal adviser to NSW Treasury in relation to the $1.75 billion sale (by way of long term lease) and privatisation of Port of Newcastle, which is the world's largest coal export port. The A$1.75 billion restructure and refinancing transaction establishes a new benchmark in transaction preparation and execution, as reflected in the financial outcome which significantly exceeded market expectations. The transaction will free up much needed capital to help the NSW Government fund the revitalisation of the Newcastle CBD, and a backlog of other critical public infrastructure across New South Wales, including hospitals, schools and roads.
Advised on the reverse takeover between Mnemon Limited and Grays (Aust) Holdings Pty Ltd, which resulted in the combination of the two entities. This transaction created Australia's largest listed e-commerce group with gross sales in excess of $440 million. This was a complex backdoor listing of Grays Online involving a combination of multiple online businesses.
Advising Iron Mountain Inc. on its proposed acquisition of Recall Holdings Ltd by way of a recommended scheme of arrangement through a largely scrip offer that values Recall at around A$3.8 billion. A merger of Iron Mountain and Recall will create the world's leading information management company.
Our Ports team is the leading legal specialists in this sector, with key roles advising on all recent major national port refinancing deals. We were the sole legal advisers to NSW Treasury in relation to the A$5.07 billion restructure and refinancing of the State-owned assets of Port Botany and Port Kembla, with proceeds from the transaction to be invested in the NSW Government's infrastructure fund, Restart NSW. That transaction completed on 31 May 2013.
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 binding sale agreement to acquire 100% of Telecom New Zealand Australia Pty Ltd for A$450 million on a debt-free, cash-free basis. The sale includes the AAPT and Powertel businesses, and is a highly strategic acquisition to incorporate AAPT's inter-capital fibre into TPG's extensive network assets.
Acted for Alsons Consolidated Resources Inc, the Philippines-listed resources company, on its take private of the ASX listed Indophil Ltd by scheme of arrangement. The transaction valued Indophil at A$361 million.
Advising TEN's independent directors, who oversaw TEN's much reported strategic review, considering all viable options including the sale of all or part of TEN, debt refinancing solutions, equity raising solutions, asset sales and joint venture options and the refinancing of existing funding facilities. This process over a 7 or so month period culminated in the announcement of strategic arrangements with Foxtel and a proposed $154 million capital raising.