Baker McKenzie has helped Sundance Energy Australia, an ASX-listed energy exploration company, with its redomiciliation in the US and listing on the Nasdaq.
The leading firm’s work on the multi-faceted deal involved securing shareholder and court approval for the redomiciliation and float. Guy Sanderson, Baker McKenzie’s lead partner on the deal, explained the intricacies of the transaction.
“The transaction involves a scheme of arrangement under which Sundance shareholders exchange their ASX listed shares for shares in a new Delaware incorporated holding company. Sundance hopes to access deeper and more liquid capital markets with a Nasdaq listing in the US, where investors have more experience with unconventional oil and gas businesses such as theirs,” he said.
Baker McKenzie said that the redomiciliation, which will close this month, is worth about $100m.
In addition to Sanderson, the Baker McKenzie corporate team included senior M&A partner Steven Glanz and US capital markets practice Australia leader Andrew Reilly, as well as associates Alberto Pacchioni, Louise Hang, and Madeleine McIntosh in Sydney.
Corporate securities and M&A partner Heath Trisdale and associate Shahla Hazratjee, both based in Houston, also worked on the deal. Tax support was provided by partner John Walker and associate Joanna Kuok, who are both in Sydney, as well as tax teams in the firm’s US offices.