Legal leaders direct $2.5bn entitlement offer

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A group of three international firms have acted in Woodside Petroleum’s latest billion-dollar entitlement offer.

Herbert Smith Freehills (HSF), King & Wood Mallesons (KWM), and Sidley Austin provided legal expertise in the $2.5bn pro rata accelerated renounceable entitlement offer.

HSF acted for Woodside in the transaction. KWM advised UBS AG and Morgan Stanley Australia Securities, which were the joint lead managers of the offer. Sidley Austin was the US counsel for the joint lead managers.

Ernst & Young were the deal’s accountants.

Proceeds of the raising will be used by Woodside for general corporate purposes and to fund its acquisition of up to 50% more interest in the Scarborough gas field.

The HSF team that advised Woodside on the offer was led by partner Philippa Stone. It included senior associate Geoff Kerrigan and solicitors Christian Bourke, Michael Burrell, and Nick Harding. The HSF team that handled the US securities law aspects of the offer was led by partner Siddhartha Sivaramakrishnan and senior associate Jin Kong.

KWM’s team was led by partner David Friedlander. He was supported by senior associate Amanda Isouard and solicitor Michael Power.

Both HSF and KWM also acted on Woodside’s $2.5bn accelerated renounceable entitlement offer in 2009.


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