David Eliakim

David Eliakim

David Eliakim is a partner in the Sydney office of King & Wood Mallesons. He specialises in mergers and acquisitions and equity capital markets advising a wide range of clients, including listed and unlisted trusts, stapled entities and hybrid debt/equity vehicles.

David is ranked as a leading Australian investment funds lawyer by Chambers and Partners (2013 - 2019) and as a leading capital markets lawyer by Who's Who Legal (2018 and 2019). David has also been peer selected for Best Lawyers in Australia (2015 - 2020) in the practice areas of: Corporate Law, Corporate/Governance Practice, Equity Capital Markets Law, Funds Management, Investment Funds and Mergers and Acquisition Law. David was also ranked as a 'Notable Practitioner' in IFLR1000's 2019 rankings.

David was formerly a lecturer on Hybrid Securities at the University of Sydney. David is also a member of the Corporations Committee of the Business Law Section of the Law Council of Australia.

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Recent Matters

Equity capital markets

  • amaysim Australia Limited - accelerated non-renounceable entitlement offer (2019)
  • SCA Property Group - advising on approx $300 million placement and security purchase plan (2018)
  • APA Group - $500 million entitlement offer and redemption of subordinated notes (2018)
  • Cordish Dixon Private Equity Fund IV - fund establishment and $100 million capital raising (2018)
  • Evans & Partners Global Disruption Fund - IPO (2017)
  • Deutsche Bank and Morgan Stanley - $1.5 billion placement and share purchase plan for Santos (2016)
  • Macquarie Group - $400 million placement (2015)
  • Citi, Deutsche Bank and Bank of America Merrill Lynch - $1.3 billion accelerated entitlements offer for AGL Energy (2014)
  • CBA Equities - IPO of Affinity Education (2013)
  • Trust Company - IPO of National Storage REIT (2013)
  • APA - $475 million subordinated notes offer (2012)
  • Deutsche Bank - convertible bond issue and related buy-back for CFS Retail Property Trust (2011)

Funds transactions

  • GIC – establishment of $2 billion industrial properties joint venture with Dexus (2018)
  • Hastings Funds Management - change of manager of Utilities Trust of Australia and The Infrastructure Fund (2018)
  • Lendlease - joint ventures in respect of International House Sydney and Daramu House (2018), $500 million Melbourne University development (2017), establishment of $400 million social infrastructure fund (2016), $2 billion private fund (Tower 1, Barangaroo) and subsequent partial sell-down by Lend Lease Trust (2015).
  • Grocon - establishment of multi-family development fund (2017)
  • Brookfield - joint venture with AMP Capital and UniSuper for $1.8 billion development of Wynyard Place (2017)
  • OPTrust - establishment of securitised rental receivables fund (2016)
  • Palisade - establishment of Palisade Renewable Energy Fund (2016)
  • AMP Capital - restructure of AMP Capital Infrastructure Equity Fund (2016)
  • Arcadia - restructure of Australian Wholesale Property Fund (2016)
  • Primary Health Care - joint venture with Australian Unity to establish healthcare fund (2015)
  • Qube and Aurizon - establishment of joint venture structure to develop and operate the Moorebank Intermodal Terminal (2015)
  • DEXUS Property Group - joint venture with Future Fund to acquire a portfolio of industrial properties (2014)
  • ING - sale of listed ING Office Fund management platform (2011)

Public M&A transactions and reorganisations

  • Brookfield Business Partners - $5.7 billion proposal to acquire Healthscope (2019)
  • Taurus - takeover bid for Realm Resources (2018)
  • CKI - $7.4 billion scheme of arrangement to acquire DUET Group (2017)
  • Devine - takeover defence following bid by CIMIC Group Limited (2015)
  • DEXUS Property Group - joint venture with Canada Pension Plan Investment Board in respect of takeover of $4 billion Commonwealth Property Office Fund (2013)
  • The Trust Company - $210 million proposed scheme of arrangement by Perpetual (2013)
  • Valad Property Group - $800 million acquisition by Blackstone by way of scheme of arrangement (2011)
  • Gold One - $690 million investment and takeover bid by Chinese SOE consortium (2011)
  • Brookfield Infrastructure - $1 billion scheme of arrangement for Prime Infrastructure (2010)

Private M&A transactions

  • Westconnex - $9.3 billion sale of 51% interest in toll roads to Transurban-led consortium (2018)
  • Metronode - acted for underbidder on $1 billion sale by Ontario Teachers' Pension Plan (2017)
  • Citigroup - $880 million acquisition of Coles credit card portfolio (2016)
  • CIMIC - $860 million sale of CIMIC and Ontario Teachers' Pension Plan's interest in Nextgen (2016)
  • e-Commerce Ventures - acquisition of Focus on Furniture (Melbourne based furniture retailer) (2016)
  • Arrium - acted for Bekaert NV on its acquisition of Arrium's wire steel business and follow on joint venture with Ontario Teachers' Pension Fund (2015)
  • Crown Castle - acted for the underbidder on the $2 billion sale by Crown Castle and Todd Corporation of their Australian telecommunication towers business (2015)
  • Port of Newcastle - $1.75 billion privatisation by Hastings/China Merchant Group (2014)
  • Leighton Holdings - $885 million sale of telecommunications business to Ontario Teachers' Pension Plan (2013)
  • Port Botany and Port Kembla - acted for the underbidders on the NSW Government's $5 billion privatisation of this asset (2013)

Experience

  • 1991 - 1993: Bachelor of Arts, University of Witwatersrand, Johannesburg
  • 1994 - 1995: Bachelor of Laws (with distinction), University of Witwatersrand, Johannesburg
  • 1996 - 2000: Solicitor, Werksmans Attorneys, Johannesburg
  • 2000 - 2002: Partner, Werksmans Attorneys, Johannesburg
  • 2002 - 2005: Senior Associate, Mallesons Stephen Jaques, Sydney
  • 2005 - present: Lecturer, Hybrid Securities - University of Sydney
  • 2006 - present: Partner, King & Wood Mallesons, Sydney.

Location

Legal insights

KWM advised Brookfield Business Partners on its proposal to acquire Healthscope. We discussed the innovative aspects of the deal with partners David Eliakim and Yuen-Yee Cho.

17 April 2019

Treasury has released drafts of the regulatory and tax legislation for the CCIV regime.

21 January 2019

This new draft adds provisions on related party transactions, members’ rights and meetings.

15 June 2018

ASIC has today released a Consultation Paper announcing important proposed changes to the Australian financial services licence regime for FFSPs.

01 June 2018

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