Thomson Geer advises Mitsubishi Motors Corporation on increasing stake in FleetPartners to 19.9%

Thomson Geer has advised Japanese global motoring giant Mitsubishi Motors Corporation on increasing its stake in listed Australian automotive financial services company FleetPartners Group Ltd to 19.93 per cent.

FleetPartners is a leading provider of vehicle leasing, fleet management, novated leasing, operating across Australia and New Zealand with decades of experience. The company has a market capitalisation of A$650 million.

In June last year, Mitsubishi acquired 5.01% of FleetPartners’ total issued shares. Mitsubishi said in a statement it increased its stake to strengthen the strategic relationship between the companies and that it had no current intention to acquire control or make a takeover offer.

Thomson Geer brought together a team across Corporate, Tax and Regulatory practice areas to advise Mitsubishi. The team provided strategic advice on the transaction structure and applicable foreign investment, competition and takeovers laws.

The team was led by Partner Scott Gibson, who said: "We are pleased to have assisted Mitsubishi to grow its position with a leading Australian company. We were able to draw on legal skills and experience across Thomson Geer to deliver the outcome quickly and efficiently."

The team also included: Partners Stephen Voss, Michael Ng, Cameron Forbes and George Lukic, Special Counsel Helen Jin, Senior Associate Melissa Oliveri and Law Graduate Eliza Parnell.

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