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First State Super successful in Land Use Victoria bid
Allens has advised First State Super on its successful bid for concession to operate the land titles and registry functions of Land Use Victoria for the next 40 years.
Grace Ormsby
Firm: Allens (First State Super)
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Deal: Allens has advised First State Super on its bid for concession to operate land titles and registry functions for Land Use Victoria.
Value: $2.86 billion
Area: Government
Key players: Jeremy Low led a team of partners including Chris Blane, Valeska Block, Gavin Smith, Tom Highnam, Nicholas Adkins, Ben O’Hoy, Ted Hill, Veronica Siow, Charles Armitage, Adrian Chek, Geoff Sanders and Simun Soljo.
Managing associate Phil O’Sullivan was joined by senior associates James Nguyen, Jessica Selby, Sunny Jong, Tarsha Gavin and Tom Tian, as well as finance counsel Damon Angus in working on the deal.
In addition, associates Tom Hall, Alex Ortner, Zac Kedgley-Foot and Christopher O’Yang, lawyers Elise Blume, Miles Ma, Ryan Nash and Ying Chin, and graduates Katherine Tsatsaklas and Saurabh Narain assisted.
Deal significance: First State Super is one of Australia’s largest superannuation funds with over $90 billion under management.
Allens’ M&A, technology, media and telecommunications, banking and finance, IP, tax, real estate, competition and employment teams all advised on the transaction.
Lead partner Jeremy Low said the firm was delighted to have continued to work with First State Super on this “landmark win”.
“The result reflects continuing appetite for privatisation in the market, as well as the growing appeal to institutional investors for critical infrastructure of technology and data assets,” he said.
