In our last edition for 2023 we share with you our steady flow of deals in the energy and resources sector. As predicted, we’ve seen deals in this space continue to roll in, and we don’t expect that to slow down. Our headline deal is Australia’s biggest M&A transaction in 2023 - Newmont’s acquisition of Newcrest. We also share our recently released M&A in the City, reflecting on what we saw this year and what to expect in 2024. Catch you next year!
Will Heath, Scott Langford and Antonella Pacitti led a team to advise Newmont Corporation on the completion of its acquisition of Newcrest Mining Limited by scheme of arrangement. The landmark acquisition, which officially closed on Monday 6 November 2023, extends Newmont’s lead as the world’s largest gold mining company. We hope to see more acquisitions of this scale in 2024!
Vishal Ahuja led a team to advise AEMO Services Limited on the second tender for Long-Term Energy Service Agreements under the NSW Electricity Infrastructure Roadmap. This tender focused on firming infrastructure and demand response, both of which are critical for NSW energy security.
Roderick Smythe led a team to advise leading alternative investment firm Stonepeak on acquiring a preferred equity interest in AGP Sustainable Real Assets (AGP). The investment seeks to integrate energy and community infrastructure, developing innovative sustainable solutions that meet Australia’s renewable energy targets and the needs of an evolving society.
Playing a key role in lower-emission solutions, David Eliakim and Jared Nickig led a team to advise the shareholders of MatchBox Exchange on the company’s sale to ASX listed WiseTech Global. The sale comprises 100% shares in Matchbox Exchange, with a portion of the Purchase Price discharged by the issue of new shares in WiseTech Global.
Assisting Telstra on their commitment to investing in renewable energy projects, Vishal Ahuja and Shirley Cheng led a team to act for Telstra to sign a power purchase agreement with Munna Creek Solar Farm in Queensland. The project is owned by renewable energy developer Mytilineos through its subsidiary METKA EGN. The deal demonstrates Telstra’s ability to select projects that are on track for successful completion and advances Telstra’s sustainability ambitions.
In our last edition of M&A in the City for 2023 we reflect on the year that has been and discuss what’s in store for 2024. Specifically, we look at:
- What did Public M&A bring in 2023?
- It’s not all gloom and doom in the mid-market
- Can we stop spilling ink on exclusivity yet – a summary of the Takeovers Panel Guidance Note 7
- Regulatory headwinds: A spotlight on the ACCC
- What’s ahead for Public M&A Activity in 2024/25?
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