Gilbert + Tobin is advising a consortium, comprising TPG Asia, Inc (TPG), Hong Kong investment manager PAG Asia Capital (PAG) and Canada’s Ontario Teachers’ Pension Plan (OTPP) (together TPG and Partners) on its acquisition of DTZ, a global property services business of UGL Limited (ASX:UGL) for the $1.215 billion transaction.
Mergers & Acquisitions partner, Neil Pathak, is leading the Gilbert + Tobin team together with partners John Schembri (banking), Cameron Whittfield (corporate/projects), Andrew Bullock (M&A/corporate) and Peter Feros (tax) closely supported by lawyers across the firm including Nick Li, David Kirkland, Andrew Sharp, Albert Yuen, Bridget Sutton and Josh Fast.
Neil Pathak commented, “It is a pleasure to work with TPG, PAG and OTTP on such a significant, cross-border acquisition which allowed G+T to demonstrate our transactional strengths.”
The transaction is expected to close later this year, subject to completion conditions and regulatory approvals.
TPG and Partners were also advised by Cleary Gottlieb, Fangda Partners and UBS.
This transaction continues Gilbert + Tobin’s strong M&A record including advising Woolworths on the proposed takeover of David Jones, First Pacific and Wilmar on their takeover of Goodman Fielder, Vitol’s A$2.9 billion acquisition of Shell’s Australian assets and Aurora Oil & Gas’ A$2.6 billion acquisition by Baytex and Westpac’s A$1.45 billion acquisition of Lloyds’ Australian businesses. During the first quarter of the 2014 calendar-year, the M&A/Corporate Advisory team has led the larger end of the M&A market. Gilbert + Tobin is currently ranked as the leading adviser in M&A in the industry league tables including 1st for Bloomberg’s Australia & New Zealand Announced Deals (ranked by value) and Mergermarket’s Australia M&A (ranked by value).
