Baker McKenzie signed and executed a block trade early morning before the market opened on 30 August on behalf of Gresham Private Equity Limited and its associated entities who held a 9% stake in Ausdrill Limited (ASX:ASL) (Australia’s largest mining services contractor). The $90 million sale was awarded to JP Morgan who agreed to fully underwrite the sale at the closing price without any discount.

Baker McKenzie's head of Equity Capital Markets, Craig Andrade stated: "We were delighted to act for our long standing client Gresham on its successful block trade, following its complex sale last year of the Barminco business to Ausdrill."

Craig was assisted by Baker McKenzie lawyer, Matthew De Cataldo.

This sale follows the successful completion earlier this month having advised Mitsubishi UFJ Trust and Banking Corporation (MUTB) on its A$4 billion acquisition of the global asset management division (CFSGAM) of Commonwealth Bank of Australia (CBA), which closed on 2 August. CFSGAM manages A$218.4 billion in funds investments for clients around the world, including many substantial investments in infrastructure assets. The transaction was subject to many regulatory approvals around the world.
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