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Orora Limited sells Australasian Fibre Business for $1.72bn
Manufacturing conglomerate Orora Limited has entered into a binding agreement to sell its Australasian Fibre Business to a wholly owned subsidiary of Nippon Paper Industries Co for $1.72 billion.
Jerome Doraisamy
Source: facebook.com/pg/OroraGroup/photos/?ref=page_internal
Firm: Baker McKenzie (Orora Limited).
Area: Corporate markets.
Value: $1.72 billion.
Key players: The Bakers team was led by partner Peter Ickeringill, who was supported by Chris Taylor, Sarah Roughead, Richard Lustig, Steph Szkilnik, Kyle Fong, Georgina Foster, Meredith Gibbs, Sean Selleck, Sinan Alnajjar, Dora Stilianos, Kurt Fisher and Tetsuo Tsujimoto.
Deal significance: Speaking about the transaction, Mr Ickeringill said: “The sale of Orora’s Australasian Fibre Business offers compelling value to shareholders. Once the transaction is completed, our client’s intention is to return capital to its shareholders and to focus on its growing Australasian Beverage and North American businesses.”
“The size of this cross-border transaction, required a committed team drawing from lawyers in our Melbourne, Sydney and Tokyo offices, and from lawyers in Auckland, on a range of multidisciplinary aspects. Customarily, the transaction is now subject to conditions including Foreign Investment Review Board approval, with an expected completion date in early 2020.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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