Deal profile | Gadens acts on one of the largest transport and logistics transactions of the year
30 September 2019
Gadens is pleased to have advised Christian’s Bus Company
(Christian’s) on the acquisition of Gold Bus Ballarat and Bacchus Marsh Coaches
from Donric Group. Involving one of Ballarat’s most recognisable transport
lines, the acquisition is set to be one of the largest merger and acquisition
transactions in the transport and logistics industry this year.
Gadens advised Christian’s on
all aspects of the transaction including undertaking due diligence, drafting
and negotiating the sale and purchase agreement for the acquisition, drafting
and negotiating the facility agreement for acquisition finance and advising in
relation to other commercial considerations, as well as the structure of the
Deal area: Mergers and acquisitions
Practice groups involved: Gadens Partner, Richard Partridge and Senior Associate, Winnie Sinn led the multi-disciplinary team, which included specialists from Corporate Advisory & Tax, Banking & Finance and Property.
Key team members: Corporate Advisory & Tax: Richard Partridge (Partner), Winnie Sinn (Senior Associate), Lauren Guercio (Associate) and Elizabeth Chow (Lawyer).
Banking & Finance: Elliot
Raleigh (Partner) and Harveen Dhaliwal (Lawyer).
Brihony Boan (Partner) and Karena Leung (Lawyer).
Other firms involved: Ashurst (Acted for the seller, Donric Group) and MinterEllison (Acted for the incoming financier, Commonwealth Bank of Australia). Gold Bus Ballarat and Bacchus Marsh Coaches operates bus routes and charter/tour hire throughout regional Victoria. The acquisition of both businesses almost doubles the size of Christian’s, which, first began moving into the bus industry during the 1980’s. Christian’s now employs over 400 staff to run its new fleet of over 300 vehicles. Gold Bus Ballarat and Bacchus Marsh Coaches complements Christian’s existing bus operations, which operates routes in Ararat, Beaufort, Bendigo, Colac, Ocean Grove, Terang and Warrnambool.