Profile of Chelsey Drake

Chelsey Drake


About Chelsey Drake

Chelsey is a senior corporate partner at Allens. Chelsey regularly works with her clients on both public and private M&A transactions, as well as capital raising transactions and important governance issues. Chelsey has been a member of the Australian Government’s Takeovers Panel since 2016.

She is a trusted advisor to many listed and large unlisted businesses including Aurelia Metals (ASX:AMI), Central Petroleum (ASX:CTP), Corporate Travel Management (ASX:CTD), G8 Education (ASX:GEM), GHD, Hyne Timber, Michael Hill International (ASX: MHI), National Storage REIT (ASX: NSR), Nexus Hospitals, Novonix (ASX: NVX) and QIC.

Chelsey's transaction experience includes advising:

Private M&A
  • Nexus Day Hospitals – on the acquisition of the Montserrat Day Hospital business from Healius.
  • Michael Hill International – on the acquisition of the Bevilles jewellery business, which operates a network of 26 stores across Victoria, New South Wales and South Autstralia, from the Bevilles family.
  • Tilt Renewables – which is jointly owned by QIC, AGL and the Commonwealth Future Fund, on the acquisition of a 50% interest in the 1.2GW Forest Wind Farm Project.
  • QIC – on the sale of the Queensland Motorways' toll road portfolio to Transurban; on the acquisition of the Sea Swift integrated marine, transport and logistics business from a group of shareholders including CHAMP Ventures and Toll Holdings; on the acquisition the Moomba to Adelaide Pipeline System from APA Group and on the grant of a concession to operate the Queensland Titles land registry business from the Queensland Government.
  • Apollo – on the acquisition of a 18% strategic stake in ASX listed financial services business Challenger from Caledonia.
  • OTPP – on the acquisition of a 33.4% interest in Greenstone, one of Australia and New Zealand's leading insurance distributors from the founder, HIBV and CDPQ.
  • News Corporation – on the sale of a 35% interest in its Fox Sports business to Telstra in exchange for a controlling interest in the Foxtel business and on the renegotiation of the Foxtel joint venture agreement.
  • Puma – on the sale of its Australian fuel business, including its retail network of over 279 fuel stations, to Chevron.
  • Hyne Group – on the sale of approximately 60% of the family owned Hyne timber business to UK based James Jones & Sons Limited and the establishment of a joint venture between the continuing shareholders and JJSL.
  • Aurelia Metals – on the acquisition of the Dargues gold mine from Diversified Minerals.
  • GHD – on its cornerstone and then Series B funding of Lavo, a developer of hydrogen storage and integrated AI enabled digital platforms.
  • Queensland government – on the IPO and ASX listing of QR National and on the long term lease of the Abbot Point coal terminal to the Adani Group.
Public M&A
  • Stanmore Coal – on its defence of multiple unsolicited hostile takeover bids made by Golden Investments.
  • QIC – on its first public company takeover transaction, the acquisition of ASX listed distributed generation business Pacific Energy by way of scheme of arrangement.
  • National Storage – in relation to the non-binding indicative offers to acquire National Storage received from Gaw Capital, Warburg Pincus and Public Storage.
  • Shell – on the establishment of an LNG joint venture with PetroChina and on that joint venture's A$3.4 billion takeover of Arrow Energy by way of scheme of arrangement.
Capital markets
  • G8 Education – on a AUD$301 million underwritten placement and accelerated renounceable entitlement offer.
  • National Storage REIT – on a AUD$300 million underwritten placement and security purchase plan.
  • Aurelia Metals – on a AUD$130 million underwritten placement and accelerated entitlement offer.
  • Novonix – on a AUD$146 million underwritten institutional placement, conditional placement to directors and share purchase plan; in connection with US energy company Philipps 66's USD150 million investment in the company; on the issue of convertible notes totalling USD30 million to Korea based LG Energy Solutions and in relation to the company's listing on NASDAQ.
  • Corporate Travel Management – on a AUD$375 million underwritten accelerated non-renounceable entitlement offer.
  • ERoad – on a NZD$50 million underwritten placement and share purchase plan and application for admission to the ASX.
  • Mitchell Services – on a AUD$10.5 million underwritten accelerated non-renounceable entitlement offer.
  • Glencore – on a subscription for convertible notes in TSX listed Macarthur Minerals.
  • Lazard – in its capacity as dealer manager, in relation to an exchange offer made to the holders of Peabody's senior secured notes valued at approximately USD$400 million.
  • Morgans – in its capacity as underwriter, in relation to the Gold Hydrogen IPO