MinterEllison has acted on a cross-border deal that expands the reach of an Australia-headquartered creative production agency.
The top firm advised ASX-listed Wellcom Group Limited, which is getting a majority of its stake acquired by Innocean Worldwide. The Korea Exchange-listed Innocean is acquiring 85% of Wellcom, which is valued by the deal at $265.8m.
MinterEllison said that it advised Wellcom, a creative production and marketing services agency with a presence in Australasia, Asia, Europe, and North America, in all aspects of the proposed acquisition. This included the scheme implementation deed and related documents. The top Australian firm said that it is now preparing the scheme booklet needed for shareholder and court approvals.
“Innocean's offer to purchase 85% of the issued share capital of Wellcom will provide a great opportunity for its businesses and people by offering a larger geographical footprint and new opportunities in complementary business channels,” said partner Bart Oude-Vrielink. “The transaction is an important and exciting strategic decision that will amplify Wellcom's capabilities.”
Oude-Vrielink jointly headed MinterEllison team with partner Nick Broome and special counsel Sudharshan Senathirajah. They were supported by lawyer Mark Simkiss and graduate Josh Carfi.
Kidder Williams was Wellcom’s financial adviser, with a team headed by David Williams, who was supported by James Chuah, MinterEllison said.