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Global firms strike it rich on oil merger
King & Wood Mallesons and Herbert Smith Freehills played leading roles on a major energy & resources deal.
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Deal: Horizon Oil Pty Ltd’s merger with Roc Oil
Value: $800 million
Area: M&A
Key Players: The KWM team was led by Brisbane-based partner Stefan Luke (pictured), with assistance from senior associate Rhys Casey and solicitors Steve Mylonas and Jack Handford. HSF’s team comprised partners Robert Merrick and Tony Damian, senior associate Li-Lian Yeo and graduate Amelia Morgan
Deal Significance: The “merger of equals” between the two Australian companies has the support of the respective firms’ boards, but there has been shareholder unrest, with the fund manager Allan Gray, which has a 20 per cent stake in Roc Oil, wanting a shareholder vote on the deal, which is due to be completed in August.
