King & Wood Mallesons (KWM) is pleased to have worked as Telstra’s lead counsel on Telstra’s strategic corporate restructure and congratulates Telstra on having implemented the first component of the restructure.
As a result of the restructure and associated shareholder approved scheme of arrangement, Telstra Group Limited is now listed on the ASX as the new head entity of the Telstra Group. KWM has worked side-by-side with Telstra since before it listed on the ASX. It acted on Telstra’s IPO in 1997 and subsequent public offers and is very proud to have now helped the Telstra Group take the next step in its life as a listed entity on the ASX.
An extensive KWM team has advised Telstra throughout the process and on all aspects of the restructure, including obtaining shareholder and court approvals, the creation and passage of Federal legislation and ACCC authorisation.
Partners Joe Muraca, Cheng Lim, Stephen Minns, Jack Hill, Nicola Charlston, Kirsten Bowe, Rachael Lewis, Kate Creighton-Selvay, Ben Kiely, Jessica Kruger and Katrina Parkyn advised Telstra on the scheme of arrangement process, ASX listing requirements and the operational and regulatory elements of the restructure, together with many other lawyers at KWM. Partner Caroline Coops led the ACCC aspects while Partner Anne-Marie Neagle led the financing stream and Justin Cherrington led on tax aspects. Special Counsels , Daryl Cox and Mikkeli Godfree and Senior Associates Stephen Brightman, Amanda Kazacos, Ari Rosenbaum and Charles Westh were also key in supporting Telstra on the restructure. Kerryn Underwood led the project management team on one of KWM’s most significant matters for 2022.
Commenting on the transaction, KWM Partner Joe Muraca said:
“This is a really transformative project at enormous scale. The non-operating holding company structure sets Telstra up for future success as its seeks to deliver on its T25 strategy.
Further commenting, KWM partner Cheng Lim said:
“It has been an enormous team effort from the entire firm working closely with Telstra to make the restructure happen. Our deep knowledge of Telstra and the bench strength of our team has made a real difference in helping Telstra navigate through the restructure.”
