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Hong Kong company buys $1.67bn interest in Aussie wellness brand
Three firms have advised on the $1.67 billion acquisition of a majority interest in Australian wellness brand Swisse Wellness.
Felicity Nelson
Firms: Clayton Utz and Freshfields Bruckhaus Deringer, Biostime; Herbert Smith Freehills, Swisse Wellness
Value: A$1.67 billion
Area: M&A
Key players: The Clayton Utz team included national corporate practice group head Rory Moriarty (pictured), partners Niro Ananda (private equity) and Alex Schlosser (banking), and senior associates Yasmin Hogan (corporate) and Sidney Tang, and special counsel Maria Ratner (banking).
The Freshfields team that worked alongside Clayton Utz included Simon Weller, partner; Daniel French, partner; and Richard Johnson, associate.
HSF’s Melbourne-based corporate partner Raji Azzam and senior associate Kam Jamshidi led a team advising on the acquisition strategy and documentation. Mr Azzam and Mr Jamshidi were supported by the firm’s corporate team, including solicitors Andrew Cameron and Heather Douglas, as well as other HSF team members from both local and international offices, including Shanghai, Hong Kong and London.
Deal significance: Biostime, an infant formula, baby food and baby care producer based in Asia, was selected as the preferred bidder following a highly competitive process involving multiple bidders.
