King & Wood Mallesons (KWM) has secured a key role advising Medibank Private on the Australian federal government’s scoping study into the potential privatisation of Medibank this year.
The KWM team, led by Tim Bednall, managing partner for corporate mergers and acquisitions, and partners David Friedlander, Neil Carabine, Peter Stirling and Mark Weber, will advise Medibank on the issues for consideration in the scoping study, including the sale method and timing.
KWM was reappointed to Medibank’s advisory panel earlier this year and was selected for this role due to its strong track record on other privatisations and particularly its successful role in representing government business enterprises through the privatisation process.
Medibank Private has an approximate 29 per cent market share of the private health insurance market and has more than 120 branches. It also sells life insurance, travel insurance and pet insurance.
The Commonwealth government, through the Department of Finance, is conducting the scoping study and expects it to conclude by the end of February 2014.