KKR’s $2 Billion Acquisition of MYOB


G+T has advised Kohlberg Kravis Roberts & Co L.P. (together with its affiliates, KKR) on its $2 billion acquisition of MYOB Group Limited (MYOB).

MYOB is a leading provider of online business management solutions in Australia and New Zealand.

In October 2018, KKR acquired a 19.90% stake in MYOB and submitted a non-binding indicative proposal to the MYOB Board for the acquisition of the remaining shares in MYOB. Following due diligence, KKR and MYOB entered into a Scheme Implementation Agreement under which KKR agreed to acquire all of the remaining shares in MYOB for A$3.40 per share by way of scheme of arrangement. The Scheme Implementation Agreement contained a number of novel features not previously seen in public markets transactions in Australia.

G+T advised KKR with Alex Kauye (Picture), Peter Cook, Peter Reeves, Ebony Keenan-Dunn, Keara Stretton, Richard Francis, Joshua Fisher, Ciara Coleman, Akshaya Ravi, Travis Cordingley and Nick Madders.

Banking + Infrastructure partner John Schembri led the $1.215 billion debt financing and was assisted by lawyers Erin Cartledge, Vern Lim and Mark Nichol.

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Involved fees earner: Erin Cartledge – Gilbert + Tobin; Ciara Coleman – Gilbert + Tobin; Peter Cook – Gilbert + Tobin; Travis Cordingley – Gilbert + Tobin; Joshua Fisher – Gilbert + Tobin; Richard Francis – Gilbert + Tobin; Alex Kauye – Gilbert + Tobin; Ebony Keenan-Dunn – Gilbert + Tobin; Vern Lim – Gilbert + Tobin; Nick Madders – Gilbert + Tobin; Mark Nichol – Gilbert + Tobin; Peter Reeves – Gilbert + Tobin; John Schembri – Gilbert + Tobin; Keara Stretton – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: KKR;

Author: Michael Patrini