Cam Steele

Partner | Adelaide

Cam is a Partner in HWLE’s Corporate and Commercial Group, specialising in private treaty mergers and acquisitions and equity raisings (including public markets raisings), with particular expertise in Australia’s foreign investment (FIRB) regulatory regime.

Cam has extensive experience advising clients on the application of the FIRB regime to proposed transactions, including in relation to securities, business and property acquisitions and corporate restructures, and the practicalities of obtaining, and complying with the conditions of, FIRB approval for such transactions. She regularly assists clients in analysing proposed transactions for FIRB compliance issues, developing strategies for repeat foreign investors to lower their FIRB compliance burden via blanket approvals, investment mandate controls and the streamlining of ongoing notification requirements and seeking variations to existing FIRB approval conditions.

Outside of her specialist FIRB practice, Cam has for many years acted for both listed and private clients on complex acquisitions and divestments as well as capital raisings and general corporate and commercial work. This includes advising on the obligations of companies and their officers under the Corporations Act and ASX Listing Rules in relation to fundraising activities, takeovers, employee incentive plans, directors’ duties, related party transactions and continuous disclosure obligations.

Cam works with clients across a range of industries, including agriculture, government, energy and resources, property funds and manufacturing.

Expertise

Experience

  • Resolution Life Australasia Limited (formerly AMP Life) Advising in relation to ongoing FIRB compliance for the investment and management of the $30 billion held in its statutory life insurance funds, as well as the FIRB implications arising from the proposed restructure of its investment trusts.
  • WestWind Energy Pty Ltd Advising on its FIRB compliance obligations in connection with its various wind farm projects, including advising on FIRB triggers, obtaining exemption certificates and stand-alone FIRB approvals and assisting with ongoing compliance activities associated with its FIRB approvals (including obtaining a FIRB exemption certificate to acquire up to $210 million of agricultural land for the purposes of its $2.1 billion Golden Plains Wind Farm Project).
  • SA Government Advising on the $1.605 billion commercialisation of the State’s lands titling and valuation services, including ongoing advice to the SA Government on managing the 40-year contract with the appointed service provider.
  • SA Government Advising on the $670 million sale of forward rotations rights in connection with the State’s forest plantations.
  • Foreign government-owned entity Advising on the FIRB approval requirements arising from a proposed long-term leasehold arrangement with Melbourne Airport, including structuring its bid conditions under a competitive tender to address the FIRB approval requirements, as well as applying for and obtaining FIRB approval to allow the entity to start operating in Australia;
  • AXA Investment Managers Advising on the FIRB issues associated with its $800 million acquisition of Green Triangle Forest Products (giving it control of 24,000 hectares of pine plantations) and obtaining the requisite FIRB approval for that transaction.
  • Codan Limited Advising in relation to its $114 million acquisition of the Domo Tactical Communications business, and the divestment of its Minetec business to Caterpillar Inc.
  • Ingenia Communities Group Advising on its $475 million capital raising, comprising an accelerated non-renounceable entitlement offer.