The firm also welcomed three new senior associates
Russell McVeagh has confirmed its role in helping to close out Caisse de dépôt et placement du Québec’s (CDPQ) $909m acquisition of a 50% co-controlling stake in Connexa.
The deal, which was completed on 28 February, is the first major secondary sale of an interest in a telecommunications digital infrastructure platform in New Zealand, Russell McVeagh said. It is also CDPQ's first New Zealand investment.
CDPQ picked up a 33% interest from the Ontario Teachers' Pension Plan’s (OTPP) and Spark New Zealand’s full 17% share.
“This significant secondary trade will unlock opportunities for CDPQ, alongside like-minded investor OTPP, to bring its global expertise and long-term mindset to supporting the future growth of Connexa, a premier New Zealand mobile tower infrastructure platform”, co-lead partner Michael Loan said.
Russell McVeagh guided CDPQ on the deal, working with a team from Allens. Loan headed up the Russell McVeagh team alongside fellow corporate advisory partner David Hoare; they were joined by senior associate Sam Kember and solicitor Stephanie Wheble.
OTPP and Spark received advice from Chapman Tripp and Baker McKenzie. Spark was also assisted by Webb Henderson.
Russell McVeagh also welcomed three senior associates last week in Michelle Bowie, Yaren Fu and Louise Espin.
Bowie focuses on complex commercial disputes like high-value contract claims and litigation arising out of corporate failures. She has acted for clients in New Zealand, England and Wales, and the Cayman Islands. Her appointment marks a return to the firm where she kicked off her legal career.
Fu has significant experience with commercial disputes and investigations. She has tackled regulatory enforcement, consumer protection litigation, and corporate transactions disputes on behalf of major corporates and infrastructure investors.
An environmental and planning law specialist, Espin works with government agencies, local bodies, and major infrastructure clients on large-scale consenting, plan changes and stakeholder negotiations.
All three operate from Russell McVeagh’s Tāmaki Makaurau Auckland office.
