Firms: Ashurst and Herbert Smith Freehills (consortium comprising Bain Capital Credit and Deutsche Bank Sydney branch); King & Wood Mallesons (GE)

Deal: A consortium comprising Bain Capital Credit and Deutsche Bank Sydney branch acquired GE's Australian and New Zealand commercial finance business.

Value: $1.6 billion

Area: M&A

Key players: The Ashurst team was led by partners James Marshall (pictured), Carl Della-Bosca and Graeme Tucker. They were assisted by partners Timothy Sackar, Jock O'Shea, Kenneth Nguyen, Rehana Box, Lionel Meehan, David McManus, Vivian Chang, Geoff Mann, Ian Kellock, Mark Stanbridge, Jonathan Gordon, Jennie Mansfield, Stephen Woodbury, Anita Cade and Jason Cornwall-Jones.

Deal significance: A consortium comprising Bain Capital Credit and Deutsche Bank Sydney branch acquired GE's Australian and New Zealand commercial finance business.

The GE Commercial Finance business comprises five separate pools of loan products, all of which are differently structured and have different credit dynamics.

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Separate structuring solutions and financing arrangements were required for each of these different loan pools to be implemented simultaneously with completion of the transaction, including securitisation structures and back-to-back third-party sales.

The completion process required the settlement and implementation of a number of complex completion steps.

The transaction was completed on 3 May.