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Australia Private Equity Update: March 2005

In this edition of Baker & McKenzie's publication, they look at Guidance Note 14 issued by the Australian Takeovers Panel and its potential implications for private equity funds considering public to privates.

This issue also looks at the introduction on 1 January 2005 of the Australia-United States Free Trade Agreement (the FTA), and how it is expected to reduce the compliance burden of those private equity funds whose investor base is predominantly US based. The implementation of the FTA sees the threshold for Australian Government approval of most US investment proposals increased from A$50 million to A$800 million. The anticipated effect of this will be to free approximately 90% of US investment from review by the Australian Government.

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