Media Release | MinterEllison scoops the pool in Australia's top 10 takeovers / schemes for H2-2016

28 February 2017

Leading Australian-based international law firm MinterEllison acted on 7 of the top 10 Australian takeover bids and schemes of arrangement for the second half of 2016 identified by ASIC in its Regulation of Corporate Finance Report.

The Report, which covers period July-December 2016, provides key statistical information and observations about ASIC's work in regulating and overseeing mergers and acquisitions transactions.

MinterEllison public M&A partner Michael Gajic said that no other law firm came close to that level of involvement in major Australian public M&A deals of the past 6 months.

"This level of success in Australia's top public M&A deals is an outstanding result, and reflects our firm's deep expertise in public M&A," Mr Gajic said.

According to ASIC's Report, on the basis of documents lodged or publicly released during the period there were 41 separate control transactions with a total value of A$5.6 billion – up from the 22 transactions during the previous six months.

"The top 10 transactions alone accounted for close to A$4.5 billion of that total value, with the highest-value deal being Baring Asia Private Equity Fund VI's successful bid for SAI Global Limited. That was one of 7 transactions in the top 10 in which MinterEllison played a key role," Mr Gajic said.

"There were also innovative features in those transactions introduced by MinterEllison – such as the liability cap in the SAI Global buyout, the deal protections in Vitaco and the consideration structure in Patties."

The other MinterEllison transactions in the top 10 were Bradken / Hitachi Construction Machinery Co; UGL / CIMIC; S. Kidman & Co / Australian Outback Beef; Fantastic Holdings / Steinhoff International; Vitaco / Shanghai Pharmaceuticals Holdings and Primavera; and Patties Foods / Australasian Foods.

In 5 of the 7 transactions, the acquirer was foreign. Specialist FIRB partner David Moore noted this highlights the continuing trend of foreign investment in major deals in Australia.

"MinterEllison advised each of those acquirers on the foreign investment regulatory landscape in Australia and submitted the successful FIRB applications for each of them."

Target Bidder Type Industry Value

SAI Global Limited

Baring Asia Private Equity Fund VI


Professional services


Bradken Limited

Hitachi Construction Machinery Co., Ltd




UGL Limited

CIMIC Group Limited


Construction and engineering


S. Kidman & Co Ltd

Australian Outback Beef Pty Ltd


Food products


Fantastic Holdings Ltd

Steinhoff International Holdings N.V.


Household durables


ASG Group Limited

Nomura Research Institute, Limited


IT services


GPT Metro Office Fund

Growthpoint Properties Australia Limited (Growthpoint Properties Australia Trust)


Equity real estate investment schemes


Vitaco Holdings Limited

Shanghai Pharmaceuticals Holdings Co., Ltd and Primavera Capital Fund II L.P.


Personal products


Payce Consolidated Limited

Bellawest Pty Limited


Real estate management and development


Patties Foods Ltd

Australasian Foods Bidco Pty Limited (owned by funds managed or advised by Pacific Equity Partners Pty Limited)


Food products



Link to ASIC Report: