Dealmakers inked the transaction before the market opened on 30 August
Baker McKenzie has followed up its work for Gresham Private Equity with a $90m block trade.
The top firm acted on behalf of the private-equity firm and signed and executed a block trade early morning before the market opened on 30 August. Gresham and associated entities held a 9% stake in Ausdrill.
The sale of the stake was awarded to JP Morgan, which agreed to fully underwrite the sale at closing price without any discount, Baker McKenzie said.
“We were delighted to act for our long standing client Gresham on its successful block trade, following its complex sale last year of the Barminco business to Ausdrill,” said partner Craig Andrade.
Andrade, who is Baker McKenzie’s head of ECM, was assisted by lawyer Matthew De Cataldo.
The block trade follows Baker McKenzie advising Mitsubishi UFJ Trust and Banking Corporation on its $4bn acquisition of the global asset management division of Commonwealth Bank of Australia.
