Herbert Smith Freehills is pleased to have advised CSR Limited (CSR) on all aspects of its successful A$4.3 billion acquisition by Compagnie de Saint-Gobain (Saint-Gobain) by way of a scheme of arrangement (Scheme).
CSR entered into a scheme implementation deed with Saint-Gobain for the acquisition of all of the shares held by CSR shareholders in February 2024.
Under the Scheme, CSR shareholders received total consideration of A$9.00 per CSR share. The Scheme was approved by CSR shareholders and the Supreme Court of New South Wales in June 2024.
The Herbert Smith Freehills team was led by partners Tony Damian and Amelia Morgan. The team also included solicitors Tamara McConnell, Nick Venn and Benjamin Kyriazis.
The Scheme is another example of Herbert Smith Freehills’ market-leading work in Australian M&A. The deal, which was widely supported by the market and CSR shareholders, will allow CSR to further deepen and broaden its leadership in light and sustainable construction in the Australian market, and provide Saint-Gobain with the opportunity to strengthen its presence in the high-growth Asia Pacific region.
Herbert Smith Freehills partner Tony Damian said, “This is an important transaction. It demonstrates that Australia remains an attractive destination for global M&A activity.”
Fellow partner Amelia Morgan said, “The HSF team worked closely with the CSR team to help execute this significant deal.”
UBS Securities Australia Limited acted as financial advisor to CSR.
