Law firm Gilbert + Tobin has picked up the plum Virgin Australia IPO mandate, and with it an estimated $5 million or so in expected fees.
this week, G+T’s lawyers are understood to have been on the scene for months, helping with preparatory due diligence and getting the prospectus ready for potential investors.
“A small internal team has been stood up to work exclusively on this preparatory phase,” Virgin Australia CEO Jayne Hrdlicka told staff earlier this month, in reference to the potential IPO.It’s a good gig for Gilbert + Tobin, which nudged out rivals including Herbert Smith Freehills and Clayton Utz, and gives it front-row seats to what could become one of corporate Australia’s stories of the year.
Senior lawyers reckon it would be worth about $5 million in fees and give Gilbert + Tobin a strong foot in the door at what could become an SThe last time G+T did any transactions work for Virgin Australia was in October 2012, according to SP Global Market Intelligence data, when it advised Virgin on its acquisition of a stake in Tiger Airways. The law firm also advised the No.2 Australian airline on its alliance with WA’s Skywest at about the same time.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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