07 July 2021

KWM helps Endeavour Group focus on future with successful demerger

King & Wood Mallesons is delighted to have assisted the newly ASX-listed Endeavour Group in its demerger from the Woolworths Group, reflecting their vision to create two simpler, more focused independent businesses that are better equipped for future growth.

KWM advised Endeavour Group on all aspects of the demerger. Under the demerger, eligible Woolworths Group shareholders received one Endeavour Group share for each Woolworths Group share held on the demerger record date.

In partnership with Endeavour Group’s legal team led by Peter Atkin, KWM M&A Partner Meredith Paynter and Head of Public M&A David Friedlander, Real Estate and Projects Partner Carl Black, Employment law Partner Murray Kellock, Banking and Finance Partner Yuen-Yee Cho, and Data & Technology Partner Nicole Heller assisted  Endeavour Group and Woolworths Group to navigate various commercial, legal, regulatory, and governance aspects relating to the implementation of the demerger and the separation and establishment of the Endeavour Group as a standalone group.

This included advising on the demerger deed, ASX listing issues, governance and financing arrangements, various digital and data-related considerations, and partnership arrangements.

Commenting on the deal, Meredith Paynter said:

“The successful listing of Endeavour Group is a significant milestone for all involved.  We are delighted to have been able to support Woolworths Group and Endeavour Group on this exciting project.”

Further commenting, Carl Black said:

“This process and resulting structure was designed to set Endeavour Group up to enable it to fulfil its vision for shareholders and customers through improving both in-store and digital experiences, and we’re delighted to have had the opportunity to assist the dynamic Endeavour Group team in the project.”

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