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Herbert Smith Freehills advises Ausenco on its acquisition by Resource Capital Fund VI L.P.

30 August 2016 | Brisbane, Melbourne, Perth, Sydney
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Herbert Smith Freehills is advising Ausenco Limited (Ausenco) on its Scheme of Arrangement under which Resource Capital Fund VI L.P. will acquire control of Ausenco.

Herbert Smith Freehills is advising Ausenco Limited (Ausenco) on its Scheme of Arrangement under which Resource Capital Fund VI L.P. will acquire control of Ausenco.

The Scheme, which gives Ausenco an implied enterprise value of approximately A$160 million, became effective on 29 August 2016 and is scheduled to be implemented on 15 September 2016.

Ausenco is a global diversified engineering, construction and project management company providing services in a range of industries, including  minerals & metals, process infrastructure, program management, environment & sustainability and oil & gas.

Resource Capital Funds is a group of commonly managed private equity funds with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions.

Under the terms of the deal, Ausenco’s largest shareholder, Duro Felguera and certain Ausenco directors and key management personnel will remain shareholders in a privatised Ausenco. The deal was executed in a short time frame – less than 3 months between signing the implementation deed and the Scheme becoming effective.

The Herbert Smith Freehills team was led by partner Tony Damian, who was supported by senior associate Li-Lian Yeo and solicitors Amelia Morgan and Anna Prell. The team worked closely with Patrick O’Connor, Company Secretary of Ausenco.

Tony Damian said, ‘The firm was pleased to advise Ausenco on this important deal, which continues an ongoing trend of consolidation in the sector.’

Luminis Partners is acting as financial adviser to Ausenco.

 

About Herbert Smith Freehills

Operating from over 26 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. We provide many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including energy, natural resources, infrastructure and financial services. www.herbertsmithfreehills.com

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Media contact:
Kelly Murray
Communications Manager
Tel: +61 2 9322 4472
Email: kelly.murray@hsf.com