ALB Melbourne Law Firm of the Year Hall & Wilcox has advised APN Property Group Limited (APN) on the A$12.4 million buyout of APN’s European joint venture partner UK Australasia Limited.
The acquisition of UK Australasia was announced by APN Property Group Limited to the ASX on Monday 20 August 2007. UK Australasia owns 50% of APN/UKA Management Limited, the asset manager of the ASX listed APN/UKA European Retail Trust.
The share purchase provides for an up-front payment of €7.65 million (A$12.4 million) and future payments on a six monthly basis determined by the growth in the APN/UKA European Retail Trust.
Hall & Wilcox provided commercial and Australian legal and tax advice and utilised its global network of affiliate firms, particularly UK firm Wragge & Co LLP, to provide services to APN in respect of UK legal and taxation issues. UK firm Macfarlanes were legal advisers to the vendors.
The transaction was lead by partners
Tony Macvean and
Peter Jenkin, supported by lawyers Peter Cope, James Morvell and Frank Hinoporos. Tony Macvean commented that:
“The deal demonstrates Hall & Wilcox’s capability and expertise in advising on international transactions and co-ordinating a team of advisers across multiple jurisdictions.”
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