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Chapman Tripp is proud to have advised on four of the winning deals at this years’ New Zealand Law Awards and ten deals recognised with Excellence Awards.
This included the M&A Deal of the Year, awarded for the Crown’s purchase of the shareholdings on Kiwi Group Holdings (KGH) held by the NZ Super Fund, Accident Compensation Corporation and NZ Post, taking 100% control of Kiwibank. Chapman Tripp partner Josh Blackmore advised NZ Post and KGH on the deal, which judges said was "A particularly complex transaction constrained by regulatory requirements demonstrating strong innovation and breadth across multiple regulatory areas."
Winner of the Equity Market Deal of the Year was the $2.2-billion recapitalisation of Air New Zealand. Chapman Tripp advised The Treasury - Te Tai Ōhanga on the New Zealand Government’s participation in the deal, which consisted of a $1.2bn pro rata renounceable rights offer, the issue of $600m of non-voting redeemable shares to the Crown, and entry into a new $400m Crown loan facility. Judges said that the deal was “high value, high stakes and public interest - perfectly executed”. Chapman Tripp partners Mark Reese, Josh Blackmore, Roger Wallis and Michael Harper all advised on aspects of the transaction.
The sale of Trustpower’s retail business to Mercury Energy won Mid-Market Deal of the Year. Chapman Tripp advised Mercury on the NZ$441m acquisition which included electricity and gas supply, broadband and mobile phone services. Judges commented that “the complexity and breadth of this transaction make it stand out, including restructures, High Court and NZCC approval and the different sectors involved.” Chapman Tripp partners Tim Tubman, Kelly McFadzien, Matt Sumpter, Lauren Curtayne, Luke Ford, Alex Franks all advised on aspects of the transaction.
Winner of the Project Finance Deal of the Year was the financing of a special purpose vehicle under the Infrastructure Funding and Financing Act (IFF). Chapman Tripp partner Leigh Kissick advised Tauranga City Council on the transaction, unlocking up to $175 million for the Council to part-fund up to 13 transport projects. Judges said that the “complexity of navigating the application of existing funding arrangements to a new regime together with the innovation involved make this deal notable.” This was the first transaction under the Infrastructure Funding and Financing Act. The same Chapman Tripp team also advised on the second IFF deal for Wellington City Council.
Demonstrating the breadth of Chapman Tripp’s transactional practices, the firm also advised on ten deals that were recognised with excellence awards:
- New Zealand sovereign Green Bond Framework and first green bond issuance (Debt Market Deal of the Year )
- Heartland Group Holdings $200 million equity raise (Equity Market Deal of the Year)
- Financing of Lodestone Energy Solar Project (Project Finance Deal of the Year)
- Acquisition of Partners Life by Dai-ichi Life (M&A Deal of the Year)
- Acquisition of Z Energy by Ampol (M&A Deal of the Year)
- Ontario Teachers’ Pension Plan Board’s acquisition of 70% stake of Spark NZ’s passive mobile infrastructure business (M&A Deal of the Year)
- Sale of One NZ Passive Mobile Towers to InfraRed and Northleaf Capital Partners (M&A Deal of the Year)
- Financial Restructuring and recapitalisation of Kurow Duntroon Irrigation Co. (Insolvency and Restructuring Deal of the Year)
- Receivership of Optic Security Group Limited and Related Sale of Subsidiary (Insolvency and Restructuring Deal of the Year)
- Fisher Funds purchase of Kiwi Wealth (Mid-Market Deal of the Year)
Chief Executive Partner, Pip England, says,
Our team has been involved in many of New Zealand’s most significant deals over the last year. Most of these have been complex, involving novel, innovative approaches by our market-leading experts. We’re thrilled to celebrate this success with our clients, who are creating transformative change in their industries.
More information on the awards, including a full list of 2023 winners and finalists can be found on the New Zealand Law Awards website.
The firm congratulates all of the other successful winners and finalists.
