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Deals 20 May

Baker & McKenzie advised regional broadband operator SP Telemedia Limited (SOT) on its acquisition of a large interest in telco company B Digital Limited. Late last year SOT entered into a…

user iconLawyers Weekly • 23 May 2005 • Big Law
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Baker & McKenzie advised regional broadband operator SP Telemedia Limited (SOT) on its acquisition of a large interest in telco company B Digital Limited. Late last year SOT entered into a Heads of Agreement with B Digital to exchange 50 per cent of its equity in Comindico and 100 per cent of equity in reseller Kooee for the stake. B Digital shareholders recently approved the proposal.

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In addition to the sale and subscription arrangements required for the Heads of Agreement, Baker & McKenzie negotiated with Primus Telecom to terminate provision of all telco services to Kooee, an essential component of the deal due to B Digital owning its own call centre and its service provision contract with Optus. Corporate partner Stephen Glanz and senior associate Hal Lloyd led the Baker & McKenzie team.

Glanz said it had been interesting to work on a transaction that was “part of the rationalisation of the telco sector in Australia” and that involved positioning SOT and B Digital for growth “by capitalising on the synergistic benefits of the B Digital, Kooee and SPTCom businesses”.

Phillips Fox advised Brisbane-based Domino’s Pizza Australia New Zealand Limited on its IPO and its Australian Stock Exchange (ASX) listing on Monday, which made the company the first fast food chain to be listed on the ASX. On listing Domino’s had a market capitalisation at the IPO price of $132 million.

Phillips Fox also advised Domino’s on its 2004 New Zealand expansion and recent acquisition of two NZ and Australian pizza chains, with the firm’s Brisbane, Melbourne and Auckland offices involved. Brisbane partners Eugene Fung and Tony Conaghan led the IPO team, while Richard Moshinsky and Mike Brooker led the Melbourne and NZ acquisition teams.

Fung said delivery of the IPO within the client’s tight timeframe required experience in both Australia and NZ in capital raising, acquisitions, franchising, leasing and prospectus, due diligence and coordination of work between offices.

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