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CITIC Capital acquisition of Trilogy International goes ahead

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Fuseworks Media
Fuseworks Media

One of the world’s largest private equity funds based in Hong Kong, CITIC Capital has acquired a leading New Zealand natural skincare and home fragrance company Trilogy International Ltd (Trilogy).

CITIC Capital’s strong relationships in the Asian and US markets offer further expansion opportunities for Trilogy, complementing its operations in New Zealand and Australia.

The acquisition sees CITIC Capital take 100 per cent of the shares in the publicly listed New Zealand company via a scheme of arrangement, and is one of the largest transactions in the past 12 months.

Top law firm MinterEllisonRuddWatts advised CITIC Capital on brokering the deal, led by Corporate Partner Silvana Schenone.

"Takeovers of listed companies by way of a scheme of arrangement have become the new norm in the New Zealand market for friendly deals, and this particular transaction has been a great example of technical and practical skills achieving a good result for our client," says Silvana Schenone.

"We applied the latest guidance from the Takeovers Panel to reach a great commercial outcome for our client CITIC Capital. By understanding our client’s goals and the complexities of the applicable legal framework, we managed to address all of our client’s objectives in a way that resulted in CITIC Capital being delighted with the outcome achieved."

MinterEllisonRuddWatts advised CITIC Capital on all aspects of the scheme including due diligence, scheme documentation and negotiation, Overseas Investment Office consent, financing arrangements, the court process and liaising with multiple regulators.

The team led by Corporate Partner Silvana Schenone also involved Senior Associate Igor Drinkovic and partners Cathy Quinn ONZM, Steve Gallaugher and Sean Gollin.

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