Sidley, Gilbert + Tobin Advise Nine Network on IPO

, The Asian Lawyer


Sidley Austin and Gilbert + Tobin are advising Australian media company Nine Entertainment on an initial public offering that could raise as much as $658 million.

The offering values the company, which operates Australia’s Nine television network as well as various online properties, at between $2.3 billion and $2.6 billion. The cash raised will go toward paying down existing debt and boosting the company’s capital position.

Final pricing for the IPO is expected on Dec. 5, with the shares listing on the Australia Securities Exchange a week later.

Gilbert + Tobin Sydney partners Peter Cook and Rachael Bassil are leading the team advising Nine Entertainment on Australian law, with support from Sydney partner Rachel Launders. Sidley Austin, which is acting as international counsel, declined to comment on the partners acting on the IPO.

King & Wood Mallesons Sydney partners David Friedlander and Shannon Finch are representing joint lead managers UBS AG, Macquarie Capital (Australia) Ltd., Morgan Stanley Australia Securities Ltd. and CBA Equities Ltd, with Sullivan & Cromwell Sydney-based special counsel Waldo Jones acting on U.S. law matters.*


*Updated, 11/4/13, 4:23 p.m.: This story has been updated to include the role of Sullivan & Cromwell special counsel Waldo Jones as adviser to the joint lead managers.


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