Australia
Herbert Smith Freehills, King & Wood Mallesons and Clayton Utz all have roles on the upcoming $4.8 billion initial public offering of Australian health insurer Medibank Private Ltd. The Australian government is the sole shareholder in the company, which is the country’s largest private health insurer and serves more than 3.8 million customers. Depending on market sentiment, the government has said it will sell all 2.75 billion shares in Medibank at between $1.36 and $1.76 apiece. The final price and trading on the Australian Securities Exchange is expected on Nov. 25. The government will keep all of the proceeds from the IPO, and plans to use the money for infrastructure investment in the country. Herbert Smith Freehills is advising the Australian government on the deal, with a team led by Sydney partner Philippa Stone. King & Wood Mallesons Sydney partner Tim Bednall, along with seven other partners in Sydney and Melbourne, is acting for Medibank. Clayton Utz Sydney partner Stuart Byrne is leading a team acting for joint lead managers Deutsche Bank AG, Goldman Sachs Australia Pty. Ltd. and Macquarie Capital (Australia) Pty. Ltd. [Read full story]
