Jonathan Grant

Jonathan Grant

Jonathan is an M&A and securities partner, based in our Sydney and Beijing offices. He specialises in:

  • Public and privately negotiated M&A - including schemes of arrangement, takeovers, asset/share sales, competitive sales processes and joint ventures and other corporate transactions including capital reductions, buy-backs and share sale facilities, together with associated governance and director duty advisory work; and 
  • Equity capital markets transactions - including IPO’s, rights offerings, private placements and hybrid security issuances. 

Jonathan’s practice is truly international in focus. He acts on the full range of domestic Australian M&A and ECM transactions, international cross-border M&A and also has a significant China team and practice and has acted for numerous:

  • International clients on a range of China Inbound M&A transactions in China and China Hong Kong SAR, including mergers, joint venture arrangements, asset/share sales, equity investments, capital raisings, market entry and establishment, service, supply and distribution arrangements, ongoing business as usual support and strategic guidance navigating all things China; and
  • Chinese clients (including SOE, POE and China domiciled PE houses and funds) on their China Outbound M&A initiatives investing across the globe (including into Australia, New Zealand, South East Asia, the US, Canada, the UK, Europe, South America and Africa).

His sector focus and experience includes financial institutions, healthcare, general industrials & consumer together with infrastructure and renewable energy.


Relevant Experience

Mergers & Acquisitions

  • Commonwealth Bank of Australia - RMB 659 million sale of 15 PRC County Banks to Qilu Bank in exchange for listed shares in Qilu
  • Sequoia Capital China – participation in Series A round capital raisings for Australian start-ups: HyperAnna (artificial intelligence powered data analysis service for businesses); Airwallex (cross-border B2B forex payment platform); and Baraja (high-resolution 3D machine vision systems for autonomous vehicles)
  • Evolution Health - (Australian health products company) – advice on market entry and PRC contracts and regulatory matters
  • Wattle Hill - (Australian PE fund focused on Chinese market opportunities) co-investment with Qiaqia Foods in Buderim Group, an ASX-listed ginger and macadamia processor and distributor
  • Zurich - A$854 million acquisition of ASX-listed Cover-More Group (leading travel insurance and assistance solutions provider) by scheme of arrangement, including its Chinese business
  • Shanghai Pharma and Primavera Capital – A$314m acquisition of Vitaco Holdings Limited (ASX listed nutritional products company) by scheme of arrangement.
  • Inner Mongolia Fuyuan Farming Co Ltd and major shareholder China Mengniu Dairy - acquisition of a 79 percent stake in Burra Foods (Australia) Pty Ltd, an Australian dairy ingredient processor 
  • State Power Investment Corporation - on its successful A$3+ billion bid for Pacific Hydro
  • Chinese SOE consortium - underbidder in its bid for the circa A$1.6 billion Swisse vitamins group 
  • Transurban-led consortium - $7.06 billion acquisition of Queensland Motorways
  • Estia Health - $1 billion IPO
  • Black Diamond - $72.5m joint venture and acquisition of Australian Portable Buildings 
  • GTL Energy Limited - coal beneficiation plant joint venture with Solid Energy New Zealand 
  • Macquarie Infrastructure Group - $804 million sale of its 50% interest in the Westlink M7 Motorway to Western Sydney Roads Group
  • Allco - US$325 million and AUD$12.5 million sale of Allco's US and Australian wind energy assets
  • Macquarie Group - $20 billion non-operating holding company restructure by way of schemes of arrangement to establish MGL as the listed holding company of the group (first such restructure by a major Australian bank)
  • Primary Health Care - $2.65 billion hostile takeover of Symbion Health followed by the $560 million sale of Symbion consumer business and $503 million sale of Symbion pharmacy business
  • Steadfast Group - restructure, broker acquisitions and IPO
  • Steadfast - $105 million acquisition of Calliden Group Limited (by scheme of arrangement) and on-sale of Calliden's general insurance operations to Munich Re 
  • CSR - attempted demerger of the CSR Sugar business
  • Woolworths’ - acquisition and then subsequent sale of Austral manufacturing assets (including Chinese subsidiary)
  • Lion Nathan - sale of Mitchelton Winery
  • Westfield - $18 billion spin out of Westfield Retail Trust and the $2 billion IPO of Westfield Retail Trust
  • Brambles - $1.4 billion demerger and listing of Recall
  • Super Retail Group’s - $610 million acquisition of Rebel Group Limited and the related $334 million accelerated entitlement offer to fund that acquisition
  • Macquarie - $1.3 billion distribution of Sydney Airport stapled securities
  • AMP - $425 million sale of a 15% interest in the AMP Capital business to, and strategic alliance with, Mitsubishi UFJ Trust & Banking Corporation
  • Various hybrid securities issuances by AMP and Suncorp Group
  • UPS’ - strategic cross-border package delivery joint venture with SF Express (China’s largest delivery group) 
  • Commonwealth Bank of Australia – ongoing advice on its various investments and joint ventures in China 
  • Australian private equity fund - on its China joint venture with a listed Chinese group [Affinity/TEG + YongLe]
  • Future Mobility Corp - on its electric vehicle joint venture with the Nanjing government 
  • Evercore - on establishing a Chinese subsidiary and market entry
  • Chinese SOE – proposed acquisition of a power project in Kenya
  • Macquarie Group’s - employee incentive arrangements in China
  • China Re. AXA and Aetna - respectively on their personal, property and health insurance joint ventures in China
  • Various UK, US, Australian and New Zealand listed entities - on their China joint venture arrangements and proposals 
  • Match divestment in Zhenai - PRY takeover defence; Power China PPP in Kenya
  • Global Switch – Chinese Consortium on its £2.4 billion strategic investment in Global Switch, the leading owner, operator and developer of large scale, carrier and cloud neutral data centres in Europe and Asia-Pacific. 
  • Chinese fund – proposed equity stake in, and joint venture with, listed New Zealand healthcare group 
  • CBA - on investments in Qilu Bank, Hangzhou Bank and Chinese county banks
  • Hopu Investments' - cornerstone stake in Paladin Energy (acting for Chinese investment house, Hopu)

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Cross Border

  • UPS’ - strategic cross-border package delivery joint venture with SF Express (China’s largest delivery group) 
  • Commonwealth Bank of Australia – ongoing advice on its various investments and joint ventures in China 
  • Australian private equity fund - on its China joint venture with a listed Chinese group [Affinity/TEG + YongLe]
  • Future Mobility Corp - on its electric vehicle joint venture with the Nanjing government 
  • Evercore - on establishing a Chinese subsidiary and market entry
  • Chinese SOE – proposed acquisition of a power project in Kenya
  • Macquarie Group’s - employee incentive arrangements in China
  • China Re. AXA and Aetna - respectively on their personal, property and health insurance joint ventures in China
  • Various UK, US, Australian and New Zealand listed entities - on their China joint venture arrangements and proposals 
  • Match Group - divestment in Zhenai (Chinese online dating site) 
  • Power China – USD$2 billion PPP in Kenya
  • Global Switch – Chinese Consortium on its £2.4 billion strategic investment in Global Switch, the leading owner, operator and developer of large scale, carrier and cloud neutral data centres in Europe and Asia-Pacific. 
  • Chinese fund – proposed equity stake in, and joint venture with, listed New Zealand healthcare group 
  • CBA - on investments in Qilu Bank, Hangzhou Bank and Chinese county banks
  • Hopu Investments' - cornerstone stake in Paladin Energy (acting for Chinese investment house, Hopu)
  • Commonwealth Bank of Australia - RMB 659 million sale of 15 PRC County Banks to Qilu Bank in exchange for listed shares in Qilu
  • Sequoia Capital China – participation in Series A round capital raisings for Australian start-ups: HyperAnna (artificial intelligence powered data analysis service for businesses); Airwallex (cross-border B2B forex payment platform); and Baraja (high-resolution 3D machine vision systems for autonomous vehicles)
  • Evolution Health - (Australian health products company) – advice on market entry and PRC contracts and regulatory matters
  • Wattle Hill - (Australian PE fund focused on Chinese market opportunities) co-investment with Qiaqia Foods in Buderim Group, an ASX-listed ginger and macadamia processor and distributor
  • Zurich - A$854 million acquisition of ASX-listed Cover-More Group (leading travel insurance and assistance solutions provider) by scheme of arrangement, including its Chinese business
  • Shanghai Pharma and Primavera Capital – A$314m acquisition of Vitaco Holdings Limited (ASX listed nutritional products company) by scheme of arrangement.
  • Inner Mongolia Fuyuan Farming Co Ltd and major shareholder China Mengniu Dairy - acquisition of a 79 percent stake in Burra Foods (Australia) Pty Ltd, an Australian dairy ingredient processor 
  • Bindaree Beef - sale and issue of a combined 45% stake to one of China’s largest meat processors, Shandong Delisi Food Co

ECM

  • Estia Health - $1 billion IPO
  • Steadfast Group - restructure, broker acquisitions and IPO
  • Westfield - $18 billion spin out of Westfield Retail Trust and the $2 billion IPO of Westfield Retail Trust
  • Brambles - $1.4 billion demerger and listing of Recall
  • Super Retail Group’s - $610 million acquisition of Rebel Group Limited and the related $334 million accelerated entitlement offer to fund that acquisition
  • Macquarie - $1.3 billion distribution of Sydney Airport stapled securities
  • IAG Ventures and Sequoia Capital China – participation in Series A round capital raisings for Australian start-up: HyperAnna (artificial intelligence powered data analysis service for businesses)
  • Sequoia Capital China – participation in Series A round capital raisings for Australian start-ups: Airwallex (cross-border B2B forex payment platform); and Baraja (high-resolution 3D machine vision systems for autonomous vehicles)
  • Hopu Investments' - cornerstone stake in Paladin Energy (acting for Chinese investment house, Hopu)
  • Various hybrid securities issuances by AMP and Suncorp Group
  • Acting as underwriters counsel to UBS, JP Morgan, Macquarie, BAML, Deutsche Bank, Credit Suisse and other underwriters on numerous capital raisings.

Private Equity

  • Sequoia Capital China – participation in Series A round capital raisings for Australian start-ups: HyperAnna (artificial intelligence powered data analysis service for businesses); Airwallex (cross-border B2B forex payment platform); and Baraja (high-resolution 3D machine vision systems for autonomous vehicles)
  • Wattle Hill - (Australian PE fund focused on Chinese market opportunities) co-investment with Qiaqia Foods in Buderim Group, an ASX-listed ginger and macadamia processor and distributor
  • Shanghai Pharma and Primavera Capital – A$314m acquisition of Vitaco Holdings Limited (ASX listed nutritional products company) by scheme of arrangement.
  • Australian private equity fund - on its China joint venture with a listed Chinese group [Affinity/TEG + YongLe]

Financial Institutions

  • Commonwealth Bank of Australia - RMB 659 million sale of 15 PRC County Banks to Qilu Bank in exchange for listed shares in Qilu
  • Zurich - A$854 million acquisition of ASX-listed Cover-More Group (leading travel insurance and assistance solutions provider) by scheme of arrangement, including its Chinese business
  • Macquarie Group - $20 billion non-operating holding company restructure by way of schemes of arrangement to establish MGL as the listed holding company of the group (first such restructure by a major Australian bank)
  • Steadfast Group - restructure, broker acquisitions and IPO
  • Steadfast - $105 million acquisition of Calliden Group Limited (by scheme of arrangement) and on-sale of Calliden's general insurance operations to Munich Re 
  • Macquarie - $1.3 billion distribution of Sydney Airport stapled securities
  • AMP - $425 million sale of a 15% interest in the AMP Capital business to, and strategic alliance with, Mitsubishi UFJ Trust & Banking Corporation
  • Various hybrid securities issuances by AMP and Suncorp Group
  • Commonwealth Bank of Australia – ongoing advice on its various investments and joint ventures in China 
  • Evercore - on establishing a Chinese subsidiary and market entry
  • Macquarie Group’s - employee incentive arrangements in China
  • China Re. AXA and Aetna - respectively on their personal, property and health insurance joint ventures in China
  • Various UK, US, Australian and New Zealand listed entities - on their China joint venture arrangements and proposals 
  • CBA - on investments in Qilu Bank, Hangzhou Bank and Chinese county banks

Health

  • Estia Health - $1 billion IPO
  • Primary Health Care - $2.65 billion hostile takeover of Symbion Health followed by the $560 million sale of Symbion consumer business and $503 million sale of Symbion pharmacy business
  • Chinese fund – proposed equity stake in, and joint venture with, listed New Zealand healthcare group 
  • Evolution Health - (Australian health products company) – advice on market entry and PRC contracts and regulatory matters
  • Chinese SOE consortium - underbidder in its bid for the circa A$1.6 billion Swisse vitamins group 

Infrastructure & Renewable Energy

  • Transurban-led consortium - $7.06 billion acquisition of Queensland Motorways
  • Macquarie Infrastructure Group - $804 million sale of its 50% interest in the Westlink M7 Motorway to Western Sydney Roads Group
  • Black Diamond - $72.5m joint venture and acquisition of Australian Portable Buildings
  • GTL Energy Limited - coal beneficiation plant joint venture with Solid Energy New Zealand 
  • Allco - US$325 million and AUD$12.5 million sale of Allco's US and Australian wind energy assets

Industrials & Consumer

  • Woolworths’ - acquisition and then subsequent sale of Austral manufacturing assets (including Chinese subsidiary)
  • Brambles - $1.4 billion demerger and listing of Recall
  • Super Retail Group’s - $610 million acquisition of Rebel Group Limited and the related $334 million accelerated entitlement offer to fund that acquisition
  • UPS’ - strategic cross-border package delivery joint venture with SF Express (China’s largest delivery group)
  • Future Mobility Corp - on its electric vehicle joint venture with the Nanjing government 
  • Inner Mongolia Fuyuan Farming Co Ltd and major shareholder China Mengniu Dairy - acquisition of a 79 percent stake in Burra Foods (Australia) Pty Ltd, an Australian dairy ingredient processor 
  • CSR - attempted demerger of the CSR Sugar business
  • Lion Nathan - sale of Mitchelton Winery

Qualifications

  • LLB (First Class Honours), The University of Sydney / exchange to The University of New York, School of Law - 2002
  • LLM (First Class Honours), The University of Cambridge – 2006 
  • Career History
  • Solicitor (Mallesons Stephen Jacques) – 2003 to 2007
  • Senior Associate (Mallesons Stephen Jacques / King & Wood Mallesons) – 2008 to 2014
  • Partner (King & Wood Mallesons) – 2015 to present

Admissions

  • Australia - High Court - 25 November 2004
  • Australia - NSW - Federal Court - 25 October 2004
  • Australia - NSW - Supreme Court - 1 October 2003

Professional memberships

  • Law Society of NSW

Legal insights

The seventh annual Global Food Forum was held in Sydney on 20 March. M&A Senior Associate Mark Vanderneut attended the conference.

27 March 2019

In China’s push to create an open yet orderly economy, the National Development and Reform Commission has issued new rules on Chinese outbound investments.

13 March 2018

China’s State Council published a set of investment guidelines providing official clarity by classifying overseas investments into three main categories: encouraged, restricted and prohibited...

21 August 2017

The acquisition of Pacific Hydro Group, IFM Investor's renewable energy portfolio, was one of the largest ever acquisition by a Chinese bidder into Australia.

25 July 2016

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