Clifford Chances advises on billion-dollar booze business deal

by Steve Randall10 Apr 2018

A team from Clifford Chance has advised global asset manager The Carlyle Group on its acquisition of Australia’s largest wine company.

The transaction, valued at AU$1 billion for 100% of The Accolades Wine Group from CHAMP Private Equity and minority shareholder Constellation Brands, was led by Clifford Chance partner Andrew Cook in Sydney.

"This deal represents one of the most significant private equity transactions in Australia to date this year and was a fantastic opportunity for us to support The Carlyle Group by bringing together our strong international private equity experience."

Cook was supported by senior associate Reuben van Werkum, with UK and EU advice from London partner Nigel Wellings and associate Stephanie Phillips. The firm’s US and China offices were also involved due to the deal’s cross-border nature.

Legal sector facing increased consolidation, regulation
International law firm Pinsent Masons has bolstered its UK restructuring practice amid growing consolidation and unprecedented change for the legal sector.

The firm was involved in all of the UK’s largest law firm restructurings including King Wood Mallesons and is anticipating further consolidation and regulatory focus for the sector.

To give added strength to this practice, former head of the Solicitors Regulation Authority’s Regulatory Management team Samantha Palmer, has joined the firm as a partner.  

“The legal profession is currently going through a period of unprecedented change due to market consolidation, the impact of technology, competition from accountancy firms and also increased regulation particularly in regard to cybercrime and AML,” commented restructuring partner Steven Cottee.

With Palmer’s background at the regulator, Cottee says she enhances the firm’s ability to advise law firms on restructuring, advising lenders to professional practices, business structure work for investors into the legal sector and pure regulatory advice for law firms themselves.

National firm partner appointed to Federal Takeovers Panel
Clayton Utz partner and corporate/M&A national group practice group leader Rory Moriarty has been appointed to the Federal Government’s Takeover Panel.

He is one of three new appointments to the panel giving it a total of 43 members, including Clayton Utz director (strategic/ corporate/ M&A) Rod Halstead who was re-appointed for a three-year term in 2016 having served on the panel since 2010.

Mayer Brown adds strength to new Tokyo office
Two new partners and a senior associate have joined the new office of US-headquartered Mayer Brown in Tokyo.

Shri Maski joins from Ashurst as partner in the banking & finance practice, along with senior associate Tomo Adachi.

Gordon Palmquist rejoins the firm as corporate partner from Shearman & Sterling.

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