MinterEllison Advises on A$1.2 billion Private Equity Offer for SAI Global
September, 2016 - Australia
ASX-listed SAI Global Limited announced it has entered into a Scheme Implementation Deed in relation to a A$1.2 billion buyout and take-private proposal from private equity firm Baring Private Equity Asia. The transaction will be implemented by way of a members' scheme of arrangement under Part 5 of the Corporations Act 2001 (Cth).
MinterEllison is legal adviser to Baring Asia on the transaction, with a team led by partner Ricky Casali, supported by partner Bart Oude-Vrielink (Corporate M&A), David Moore (Commercial & Regulatory – FIRB), Michael Gajic (Corporate M&A), and John Mosley (Financial Institutions). Special counsel and senior associates on the team included Michael Scarf (Corporate M&A), Belinda Harding (HR/IR), Mellissa Lai (Commercial & Regulatory), Geoff Earl (Financial Institutions) and Katherine Giles (Dispute resolution), associates Reiteke Grosser (Corporate M&A), Bernadette McCabe (HR/IR) and Jessica Perry (Corporate M&A) as well as lawyers Daniel Ezekiel (Corporate M&A), and Rochelle Schuenker (Dispute Resolution).
"Baring Asia is a long standing client of MinterEllison and we are delighted to have advised it on all aspects of the proposed take-private of SAI Global. The acquisition of SAI Global represents Baring Asia's first major Australian transaction. It demonstrates that off-shore private equity fund buyers continue to see value on the public markets," Ricky Casali said.
SAI Global is a global risk management, compliance and information business. It was floated on the Australian Securities Exchange in 2003 by its parent organisation Standards Australia. SAI Global also operates a market leading property services business in Australia, providing information broking and mortgage settlement services.
Headquartered in Sydney, the company has over 2,000 employees and a presence in 29 countries and 51 locations across Europe, North America, Middle East and Africa and Asia-Pacific. SAI Global is the 2nd largest aggregator of standards globally, the 6th largest certification body in the world and a leader in certification in the food industry. Its worldwide clients include Burger King, Coca-Cola, Marks & Spencer and McDonald's.
Baring Asia is a leading Asia-Pacific focused private equity business comprising funds with over US$9 billion of commitments under management.
