Deal: Allens has advised Charter Hall Group on its proposed acquisition of Folkstone Limited.

Value: $205 million

Area: M&A

Key players: The Allens team was led by corporate partner Stuart McCullogh. Partners from across the firm –Marc Kemp, Alexandra Pearce, Nicholas Adkins and Veronica Siow – were also part of the team.

The corporate team’s senior overseas practitioner Anisha Desor and overseas practitioner Tom Hall played a role, as did associate Dennis Xin, lawyers Carolyn Loh and Elise Blume and projects’ managing associate Annabelle Aland and senior associate Peter Brennan.

Also involved were senior associates Edward Chuah and Tegan Ayling, and graduate Andrew Lee.

Deal significance: Charter Hall Group is one of Australia’s leading property groups, with a total managed property portfolio of $23.2 billion.

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Folkestone Limited is a NSW-based ASX listed real estate funds manager and developer.

The acquisition is structured as a scheme of arrangement. Folkstone shareholders will be entitled to $1.39 cash per share, comprising a Charter Hall cash consideration of $1.354 per share with special dividends of $0.036 per share.

Allens’ lead partner Stuart McCulloch commented on the excitement of working with Charter Hall as it builds a social infrastructure and early learning portfolio.

“Charter Hall is a high-growth company with an exciting strategy. The acquisition of Folkestone complements Charter Hall’s existing funds management and property portfolio and will grow Charter Hall’s funds under management by $1.6 billion,” he said.

The transaction is expected to be implemented in November.