6 May 2016
Clifford Chance advises Right2Drive on its proposed acquisition by ASX-listed Eclipx
Leading international law firm Clifford Chance is advising the shareholders of Right2Drive on the proposed acquisition by Eclipx for net consideration of AUD67 million. Eclipx is Australia's leader in vehicle fleet leasing, fleet management and diversified financial services in Australia and New Zealand.
Right2Drive is a market leader in accident vehicle replacement, operating in 16 locations across Australia and New Zealand. Since inception in 2012, Right2Drive has grown to more than 130 employees and boasts 1300 vehicles in its fleet.
Lead partner on the deal Lance Sacks said, "We are pleased to continue our commitment to the new start-up culture of business in Australia. This deal facilities the sale of a business with exponential growth to a more established model."
Lance was assisted by counsel Joni Henry and associate Charles Wehbe. He also acted for Menulog on its A$855 million sale to UK-listed Just Eat in 2015.