Recent M & A Transactions

Transaction

Industry

Challenge

Activities

$AU

Sale of Australian Unity’s General Insurance business to Calliden Group

Financial Services

Limited HR involvement

	Negotiate Transitional Services Agreement
	Negotiate Employee Offer letter (100% offer, same T&C’s)
	Development of Communication Plan

$62.5 million

Sale of Westpac's Custody Business to HSBC

Financial Services

Drive the process to an unpredictable end date

	Coordinated the deal team activities
	Turn around of queries by purchaser
	Negotiated Transitional Services Agreement
	Development and execution of sale communication plan
	Completion of residual tasks

Purchase price
$150 million

Transition of Westpac's Custody Business to HSBC

Financial Services

Establish a cooperative working relationship with HSBC

	Developed and executed a joint transition plan with HSBC
	Established a joint Governance framework for the transition program
	Ensured Westpac's compliance with contractual sale obligations

Purchase price
$150 million

Merger of Australian Unity and Grand United

Health Insurance

Turn anger and uncertainty into active participation

	Merged the Retail Health Funds (180,000 members)
	Established program office
	Team leadership (8 work streams)
	Chaired Steering Committee
	Dispute resolution

Combined turnover
$500 million

Project spend
$7.5 million

Disaggregation of
Epic Energy between Hastings Funds Management and DUET/Alcoa/Alinta

Oil and Gas

Separate the business between two competing consortia

	Chaired Steering Committee
	Duplicated systems, processes and procedures
	Team leadership/relationship management
	Issue resolution and reporting
	Change management

Pipeline assets
$1.7 billion and
$800 million

Project spend
$2.5 million

Purchase of
Delhi Petroleum by Australian Petroleum Investments and Transition out of ExxonMobil

Oil and Gas

Negotiate a Transitional Services Agreement allowing sufficient time for knowledge transfer

	Chaired Steering Committee
	Documented core business activities
	Negotiated Transitional Services Agreement
	Developed transition strategy
	Migrated business from Melbourne to Sydney

Turnover
$300 millon

Project spend
$2.5 Million

Sale of AGC from Westpac to GE Capital

Financial Services

Migrate the equipment finance book ($5 billion) from AGC to Westpac in four months

	Migrated business groups to GE
	Separated the equipment finance book ($5 billion)
	Completed internal requirements critical to deal negotiation
	Terms and conditions of sale agreement executed
	Facilitated workshops between the vendor and purchaser

Transaction value $1.7 billion

Project spend
>$20 million

Purchase of Hastings Funds Management by Westpac

Funds Management

“Light touch” required to integrate a small company of 30 employees into Westpac

	Executed conditions precedent
	Integrated into Westpac as required
	Developed and delivered a communication plan
	Point of reference for all parties

Transaction value $100 million