Maddocks advises ASX-listed MyDeal.com.au Limited on its $243 million sale to Woolworths Group Limited
Maddocks has advised online marketplace MyDeal.com.au Limited (MyDeal) on the acquisition of the company by Woolworths Group Limited (Woolworths) by way of a Scheme of Arrangement.
Under the transaction, Woolworths acquired 80.2 per cent of the shares in MyDeal following approvals from MyDeal’s shareholders, the Supreme Court of New South Wales and regulators. The balance of MyDeal will be retained by certain members of the MyDeal senior management team.
The Maddocks team was co-led by Corporate Partners Catherine Merity and Ron Smooker, and supported by Special Counsel Erin Hourigan and Rosamond Sayer, Senior Associate Jacqueline Picone and Lawyers Olivia Smedley and Hugo Vlachos.
It follows the team acting on other major schemes during the last year including advising funds administrator Mainstream Group Holdings Limited on its scheme of arrangement with Apex Group, and advising SunSuper on its involvement in the Brookfield Asset Management Consortium which acquired AusNet by way of a scheme of arrangement.
Commenting on the MyDeal transaction, Partner Catherine Merity said: “MyDeal has been a client of Maddocks for the last two years after we first assisted with its listing on the ASX. It’s very pleasing to see MyDeal reach this next stage following the Woolworths acquisition.”
Partner Ron Smooker said: “The MyDeal transaction was a good example of Maddocks’ ability to nurture long term relationships and execute on technically complex deals.”
Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across infrastructure and development, and the education, government, healthcare, and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.
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