Corporate Advisory

Corporate Advisory

Nexus
2015

Gresham was engaged by McGrathNicol, the Administrators of Nexus Energy, to undertake a sale process for the company and its assets.  Nexus Energy Limited was ultimately acquired by Seven Group Holdings Limited for $221 million.

The transaction was effected via a Deed of Company Arrangement that required ASIC relief from the takeovers provisions and leave of the Court under section 444GA of the Corporations Act to enable the shares to be transferred to the purchaser.  This marked the first time in Australia that a 100% acquisition of a listed, takeovers-regulated company has been achieved through an insolvency process using the novel section 444GA path.

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