Vodafone Group Plc settles Vodafone NZ sale to consortium
Vodafone Group Plc has today (July 31 2019) settled the sale of Vodafone New Zealand Limited to a consortium comprising Infratil Limited and Brookfield Asset Management Inc for NZD$3.4 billion - one of the largest New Zealand M&A transactions on record.
James Gibson said that the transaction represents a significant milestone for all the companies involved.
“We were delighted to have acted on this significant transaction for Vodafone Group Plc as part of its plan to optimise its portfolio globally,” he said.
The Vodafone New Zealand transaction also involved regulatory approvals, including a clearance under the Commerce Act, and ongoing complex commercial and technology arrangements as Vodafone NZ continues to be a partner market of the Vodafone Group, with access to a range of services, including the Group’s global IoT platform, involving Bell Gully’s full range of specialist teams.
This sale is just one of several multibillion dollar transactions that Bell Gully has acted on in the past year. The team led by James and Anna also advised Apax Partners LLP on its NZD$2.56 billion takeover of Trade Me - the largest takeover undertaken to date in NZ via scheme of arrangement. Partner Brynn Gilbertson also led the firm’s team advising on Fletcher Building’s successful sale of the Formica Group for USD$840 million (NZD$1.2 billion), which settled in June.
These significant transactions endorse Bell Gully as the “go-to” firm for large-scale international M&A.