Allens acts for Lend Lease on A$192 million acquisition
16 December 2009
Allens Arthur Robinson (Allens) is advising Lend Lease Group (Lend Lease), one of the world's leading fully integrated property solutions providers, on its A$192 million acquisition of Lend Lease Primelife Group (Primelife). The acquisition was approved by Primelife security holders on 14 December.
The acquisition involves Lend Lease acquiring the remaining securities in Primelife which it does not already own, with Primelife security holders receiving A$0.35 for each security held.
The transaction is a further step in a series of transactions where Allens – led by Partner Tom Story and Senior Associate Gemma Piper – has advised Lend Lease as it has established and consolidated its investment in Primelife and the growing senior living sector.
'The acquisition is the third transaction we have worked on for Lend Lease that involves Primelife in a M&A context since mid 2008. We again worked closely with Lend Lease General Counsel William Hara,' said Mr Story.
The schemes will be implemented on 23 December 2009.
Ends
| Allens legal team | Tom Story (Partner – Sydney), Gemma Piper (Senior
Associate - Sydney), Alex Borda (Lawyer – Sydney), Tim Cardiff (Lawyer -
Sydney), Penelope Barclay (Senior Associate – Sydney) and Derek Heath
(Consultant) Tony Sheehan (Partner – Sydney) advised on stamp duty. Richard Harris (Partner - Sydney) and Stephanie Wee (Senior Associate -Sydney) advised on the Court approvals |
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@aar.com.au
Notes for editors.
Founded in 1822, Allens Arthur Robinson offers one of the most comprehensive legal networks in Australia and Asia with more than 1500 personnel based in 14 cities and eight countries across the region. Clients voted Allens Arthur Robinson the Best Professional Services Firm (revenue over $200 million) and Best Law Firm (revenue over $100 million) in the annual BRW Client Choice Awards 2005, 2006 and 2008. We have been an EOWA Employer of Choice for Women since 2004.
