Mallesons advises Heidelberg Materials on completion of $1.7B Maas acquisition Mallesons has advised Heidelberg Materials Australia on the completion of its acquisition of the construction materials business of Maas Group Holdings Limited for $1.7 billion.
Completion follows ACCC clearance, the first conditional Phase 1 approval under Australia’s new mandatory merger control regime, and approval by Maas Group shareholders. The acquired business brings more than 40 quarries, 22 concrete plants and asphalt and recycling operations across Eastern Australia into Heidelberg Materials’ network.
Mallesons advised Heidelberg Materials from signing through regulatory clearance to completion. The team was led by Partner Adrian Perkins and Senior Associate Jovana Zelenbaba, with Partners Lisa Huett and Jennifer Barron leading the Competition workstream and supported by a large multidisciplinary team of Angus Morris, Jack O’Brien, Leilani Hunt, Ronan Maddox, Georgia Zalunardo, David Bell, Tracey Jordan, Kathy Tin, Joe McQuillen, Ricky Aggarwal, Jessica Capalnean, Maxine Rennie, Intan Eow, Thomas Kite, Judith Taylor, Jim Zovaro and Melanie Shaw.
Commenting on the completion, Adrian Perkins said:
“Taking this transaction from signing, through the new merger regime, to completion in under eight months reflects the close collaboration between the Heidelberg and Mallesons teams. It was particularly pleasing to see a cleverly designed competition strategy deliver the first conditional Phase 1 approval under Australia’s new mandatory merger control regime, all against the background of a complex carve out transaction of a very significant industrials business. The acquisition strengthens Heidelberg Materials Australia’s ability to support infrastructure and construction activity across the eastern states.”
