Allens has cemented its position as Australia’s leading legal adviser for M&A, ranking first for deal value in Mergermarket’s 2022 Australasia M&A league table and first in Bloomberg’s 2022 Australia and New Zealand announced deals by volume.
The firm advised on more than USD64.5 billion in total deal value in 2022, including some of the largest and most complex deals in the market. Highlights included advising:
- Sydney Airport on its $23.6 billion acquisition by the Sydney Aviation Alliance;
- AusNet on its $10.2 billion acquisition by a consortium led by Brookfield Asset Management;
- AustralianSuper and Singtel in relation to their $3.58 billion acquisition of Axicom;
- HRL Morrison & Co and Brookfield Asset Management, and Commonwealth Superannuation Corporation on the $3.4 billion acquisition of Uniti Group Limited;
- Cooke on the $1.1 billion acquisition of Tassal; and
- Blackstone on its $1.5 billion sale of La Trobe Financial to Brookfield.
‘We consider it an enormous privilege to work with clients on some of their most significant matters, and for this to be reflected in the Mergermarket and Bloomberg rankings,’ said Partner and Corporate Practice Group Leader Tom Story.
‘While market confidence was somewhat rattled by global rate hikes and geopolitical uncertainty, we saw improvements in market confidence as 2022 progressed. We expect that to accelerate this year as the market adjusts to higher interest rates, with the energy transition and lower valuations for technology targets helping to generate deal flow.’
