Norton Rose Fulbright advises Roberts Co on acquiring five projects from Probuild in Victoria

Global law firm Norton Rose Fulbright has advised Australian construction company, Roberts Co, on its takeover of five unfinished Probuild projects.

Probuild, one of Australia's largest construction companies, fell into administration in February 2022, with fifteen active projects worth AU$5 billion and hundreds of workers unemployed. Ten of these projects are located in Victoria, three are in New South Wales, one is in Queensland, and another is in Western Australia.

Roberts Co has acquired five of the projects located in Victoria. These include SP Setia's Uno residential tower, PDG’s Elizabeth North headquarters and the CSL fitout, Woodlink's 502 Albert Street hotel project, and ISPT's 500 Bourke Street redevelopment.

The successful acquisition of these projects has provided Roberts Co with an instant footprint and workforce in Victoria. The company will continue to pursue other potential project opportunities in the region.

Norton Rose Fulbright's projects and construction team, led by partner Emanuel Confos and supported by partners Steven Choi, Harriet Oldmeadow and Stephen Natoli, advised Roberts Co on the novation of the contracts of all five projects. The team undertook extensive due diligence on the Victorian workbook, and the team delivered all work within the compressed three-week timeframe.

Emanuel Confos commented:

"We are delighted to support Roberts Co on the acquisition of the five Victorian projects, which will ensure their completion and provide confidence for many subcontractors and employees as work recommences on site. 

We look forward to continuing to partner with Roberts Co as they grow and develop their Victorian region offering."

Norton Rose Fulbright has also advised on a range of corporate M&A and real estate deals:

• advising leading Asia-Pacific logistics real estate platform ESR’s acquisition of Blackstone’s Milestone logistics portfolio – the largest real estate deal in Australian history
• advising the buying consortium on the acquisition of units valued at $2.2 billion in the AMP Capital Retail Trust, regarding Pacific Fair (Qld) and Macquarie Centre (NSW)
• the $16.63 billion TPG / Vodafone merger – the largest Australian M&A deal of 2020
• advising leading global real asset investment manager PATRIZIA AG on its acquisition of infrastructure investment manager Whitehelm Capital – significantly increasing PATRIZIA’s global APAC footprint
• Leading private wealth management group Ord Minnett invests into aged care and assisted living facility
• Kaufland divestment of Melbourne distribution centre and development portfolio across Australia
• Loan Market Group’s acquisition of NAB’s broker aggregation business
• Qube Holdings Limited’s $207 million sale of its Minto industrial site to Charter Hall
• advising on the on-market takeover bid by Golden Investments for Stanmore Coal, the largest successful on-market takeover bid to be announced on the ASX in the past five years