Top New Zealand firm assists in sale of CSR’s Viridian Glass

Leading Australian and New Zealand building products company, CSR Limited (CSR) has sold its Viridian Glass business to Crescent Capital Partners – one of Australia’s foremost private equity firms.

Viridian operates the only float glass manufacturing line in Australia and New Zealand, as well as downstream glass processing operations.

The transaction follows a competitive sale process which attracted interest from a number of parties.

Top Kiwi law firm, MinterEllisonRuddWatts assisted CSR on the parts of the transaction subject to New Zealand law, with Corporate Partner Silvana Schenone leading the firm’s deal team.

“This deal was complex and created some unique challenges due to its trans-Tasman nature, including dealing with multiple parties and tight timeframes,” says Silvana Schenone.

“We were pleased to assist CSR, working alongside CSR’s Head of Legal, Sean Ventris, and the M&A team at Herbert Smith Freehills in Australia.

“This transaction highlights the continuous interest in trans-Tasman businesses across a number of industries.”

Sean Ventris says: “MinterEllisonRuddWatts provided us with timely, strategic advice and transactional expertise in this complex transaction. It was great to be working with Silvana and her team again to get this across the line. CSR has a long standing association with MinterEllisonRuddWatts.”

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