Freudenberg Household Products Pty Limited entered into an agreement to acquire ED Oates Holdings Pty Ltd. from GUD Holdings Limited (ASX:GUD) on November 6, 2017. GUD Holdings Limited has agreed to sell for an enterprise value of AUD 80 million, with certain adjustments for net working capital. For the year ended December 31, 2016, ED Oates Holdings Pty Ltd. reported total sales of AUD 70 million. Completion of the transaction is conditional upon Freudenberg receiving clearance from the Australian Competition and Consumer Commission. As of December 8, 2017, Australian Competition and Consumer Commission has approved the transaction. GUD expects the transaction to complete in the first quarter of 2018. The transaction was later expected to complete during January 2018. Nick Wormald, Jill Davis and Patrick Beguely of Herbert Smith Freehills acted as legal advisors for GUD Holdings Limited. Mark Malinas, Rob Walker, Kon Stellios, Hannah Biggins, Thomas Wallrich, Evan Lacey, George Klonis, Fiona Sam and Nikita Harrison of Allens acted as legal advisors for Freudenberg Household Products Pty Limited. Freudenberg Household Products Pty Limited completed the acquisition of ED Oates Holdings Pty Ltd. from GUD Holdings Limited (ASX:GUD) on January 2, 2018. GUD Holdings Limited received AUD 83.8 million as part of consideration. The net proceeds received were used by GUD Holdings Limited to repay existing financing obligations.