Clayton Utz acts on $180m acquisition of engineering business

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Clayton Utz was the legal counsel of a Spanish conglomerate in a major acquisition of an Australian business.

The top firm advised Acciona, which has agreed to acquire the engineering business of Lendlease for $180m. Michael Linehan, the corporate partner who headed the Clayton Utz team on the transaction, said that the acquisition was a significant and complex transaction for both sides of the dealmakers.

“This is a significant transaction for both our client and Lendlease, and involved particularly complex aspects. The transaction involved a team effort from many different disciplines, from both within Acciona and Clayton Utz,” he said.

He also said that Clayton Utz looks forward to continuing to work with the global sustainability business as it grows its business operations in Australia.

The Clayton Utz specialises that advised on the deal included special counsel Quentin Reidy and senior associate Claire McKenzie. They advised Acciona throughout the sale process including on initial offer proposals, due diligence, and final agreement negotiation and execution, the firm said.

Subject to conditions and regulatory approvals, the acquisition is expected to close in the first half of this year.