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Allens and Linklaters advise Brambles on Pallecon acquisition

17 January 2013

Allens and Linklaters have advised Brambles Limited on the acquisition of CEVA Logistics' intermediate bulk container business, Pallecon, in a deal worth €135 million (US$177 million).

Pallecon, which operates across Western Europe, Australia, New Zealand and Japan, provides intermediate bulk container solutions for the transportation of liquids in the food, cosmetic and chemical industries.

The sale and purchase agreement was signed on 16 December 2012 and following the satisfaction of customary conditions precedent, the transaction closed on 2 January 2013. Brambles funded the acquisition from existing bank borrowing facilities.

Allens advised Brambles on the competitive sale process, Australian competition law and regulatory aspects of the deal, and joined with Linklaters to advise on the matter's cross-border aspects.

Partner Vijay Cugati, who led the Allens team on the transaction, said the firm has a long history of working with Brambles on strategic transactions, having previously advised on the Brambles-GKN dual listed companies merger and subsequent unification transactions, and the A$1.8 billion sale of Cleanaway and Brambles Industrial Services.

Services. 'The acquisition is significant for Brambles in its plans to grow its intermediate bulk container operations worldwide,' Mr Cugati said.

'Brambles required legal expertise across multiple jurisdictions including the UK, Germany, Netherlands and Australia and our specialist teams in those jurisdictions worked together seamlessly allowing the transaction to be signed in New York in a short timeframe.

'This transaction demonstrates the value of the global expertise that the Allens and Linklaters alliance provides.'

Allens legal team Vijay Cugati (Lead Allens Partner – Sydney), Carolyn Oddie (Partner – Sydney), Andrew Wiseman (Partner – Sydney), Larry Magid (Partner – Sydney), Gavin Smith (Partner – Sydney), Jim Parker (Partner – Sydney), Tim Frost (Partner – Sydney), Mark Stubbings (Partner – Sydney), Anthea Nolan (Special Counsel – Melbourne), Sandy Cameron (Senior Associate – Sydney), Nathan Shepherd (Senior Associate – Sydney), Adrian McGruther (Lawyer – Sydney), Sylvia Arzey (Lawyer – Sydney), James Kerr (Lawyer – Sydney), Rima Hor (Lawyer – Sydney), Judith Hammerschlag (Lawyer – Sydney) and Charles Ashton (Lawyer – Sydney).

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Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.