Corrs advises Saint-Gobain on A$4.3 billion CSR acquisition

In a significant move that underscores Saint-Gobain's commitment to expanding its global presence, Corrs Chambers Westgarth has played a key role in advising the multinational company on its A$4.3 billion acquisition of CSR Limited. The deal, structured as an Australian scheme of arrangement, positions Saint-Gobain to solidify its foothold in Australia's burgeoning construction market.

Saint-Gobain, renowned globally for its expertise in light and sustainable construction, has entered into a definitive agreement with CSR, a leading building products company in Australia catering to both residential and non-residential construction. The acquisition, valued at A$9.00 per share, equating to an enterprise value of A$4.5 billion, reflects the strategic vision of both companies.

Head of Corporate Sandy Mak led the Corrs team, providing comprehensive advice on all facets of the acquisition. The collaborative effort involved experts from various practice areas within the firm, including corporate, tax, competition, environment and planning, real estate, and litigation.

Corrs partner Sandy Mak expressed delight in supporting Saint-Gobain on this transformative transaction. "We are delighted to support Saint-Gobain on this highly strategic transaction that enables it to establish a leading presence in the high-growth Australian construction market."

The deal showcases Corrs' proficiency in navigating unique situations within the context of large cross-border transactions. The complexity of the acquisition required a coordinated effort from diverse practice groups across the country, highlighting the firm's versatility and capability to address multifaceted legal challenges.

Mak added, "This deal demonstrates Corrs’ expertise in advising on unique situations in the context of large cross-border transactions, which required a team effort from a wide range of practice groups across the country. We look forward to working closely with Saint-Gobain as it enters the Australian market and continues to grow its global footprint."

As Saint-Gobain ventures into the Australian market through this strategic acquisition, the collaboration between the multinational corporation and Corrs Chambers Westgarth is poised to set new benchmarks in the construction industry, showcasing the power of legal acumen in facilitating transformative business endeavours.