Bell Gully ensures ground-breaking NZ acquisition succeeds

by Sol Dolor18 May 2019

Bell Gully advised Apax Partners on the largest deal undertaken via a scheme of arrangement in New Zealand History.

The British private-equity firm successfully acquired Trade Me, New Zealand’s largest e-commerce company, for $2.56bn. The deal is also the largest-ever private-equity transaction to have closed in New Zealand.

Bell Gully advised Apax alongside King & Wood Mallesons. The Bell Gully team was headed by partners Anna Buchly and James Gibson. It included partners Toby Sharpe and David McPherson, as well as special counsel Glenn Shewan.

Trade Me is the leading online marketplace and classified-advertising platform in New Zealand. Since its founding in 1999, it has grown to be the fourth most-visited website in New Zealand, with about 1.8m visits and 7m listings per day.

Buchly said the firm is “delighted to have had the opportunity to act for Apax Partners on this landmark transaction involving one of New Zealand's most iconic brands.”