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Consortium bid in for Vocus Group Limited
International law firm Hogan Lovells and national law firm Gilbert + Tobin have advised on a $3.5 billion consortium bid for Vocus Group Limited.
Emma Musgrave
Firms: Hogan Lovells (Aware Super); Gilbert + Tobin (Macquarie Infrastructure and Real Assets); Allens (Vocus Group Limited).
Value: $3.5 billion.
Area: Corporate.
Key players: The Hogan Lovells corporate legal team was led by M&A (Australia) partners Charles Bogle and David Holland, with support from senior associate, Madison Smith and associates, George Hanna and Zac Forrai.
Hogan Lovells Sydney-based finance partner Bryan Paisley advised Aware in relation to the consortium’s debt financing on the bid. Other Hogan Lovells offices involved included Brussel-based partner Salome Cisnal De Ugarte and associate Ivan Pico who focused on the antitrust analysis.
Deal significance: Vocus Group Limited is an ASX-listed specialist fibre and network solutions provider. The company owns and operates a purpose-built 30,000-kilometre fibre network.
Meanwhile, Aware Super (formerly First State Super) is one of Australia’s three largest superannuation funds with $140 billion assets under management.
“Vocus announced on 9 March 2021 that it had entered a Scheme Implementation Deed under which an entity owned by the Aware and MIRA consortium has agreed to aquire 100 per cent of the share capital of Vocus for A$5.50 a share representing an acquisition price of $3.5 billion (and an enterprise value of $4.5 billion),” a statement from Hogan Lovells explained.
“Subject to court and shareholder approval, the acquisition is due to complete in the second half of 2021.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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