Thomson Geer advise Staging Connections on Scheme Implementation Agreement

Jul 17 2015

News

In July 2015, our Sydney Corporate team advised Staging Connections Group Limited (SCGL) on the proposal by US-based event technology services company PSAV to acquire 100% of SCGL by way of a scheme of arrangement, at a bid consideration of $52 million. Following the announcement of the PSAV deal, Freeman Audiovisual Inc, a substantial US based “leading global partner for integrated experiential marketing solutions”  made an unsolicited competing and better offer for Staging for $58 million (up to a maximum of $59 million).  After some complex manoeuvring in a highly regulated environment, statutorily and contractually, between the two offers we successfully signed a fresh Scheme Implementation Agreement with Freemans at the higher price – the clients were delighted with the outcome.

 

SCGL is a leading Australian-based audiovisual and event specialist company, which has a presence in Australia, Singapore, China, Fiji, and New Zealand.