Second-oldest Aus-listed company WHSP acquires Argyle equity interests

By Naomi Neilson|11 November 2019

DLA Piper has advised Australia’s second-oldest listed company, Washington H. Soul Pattinson and Company Limited, on its acquisition of equity interests.

Firm: DLA Piper (Washington H. Soul Pattinson and Company Limited)

Deal: Global firm DLA Piper has advised Washington H. Soul Pattinson and Company Limited (WHSP) on its acquisition of equity interests in various unit trusts managed by private investment company Argyle Capital Partners.

Value: Undisclosed.

Area: M&A.

Key players: The team was led by corporate partners Emma Kendall and David Ryan, finance and projects partner Onno Bakker and Rhys Davies, and with assistance from senior associates Matthew Parkinson, Elliott Cheung, and Kenny Mui. Supporting the team were solicitors Amina Karcic and Lily Bleach and foreign legal associates Katalin Legradi, Jonathan Higgs and Ditte Lundberg.

Deal significance: Argyle Capital Partners manages investments in Australian water rights, farmland and agribusiness enterprises. It has assets under management that total approximately $900 million.

WHSP is Australia’s second oldest listed company. DLA Piper said it has a significant investment portfolio spanning a range of industries, including its traditional field of pharmaceuticals as well as property, building products, mining, equities, telecommunications and financial services.

Ms Kendall said: “We are delighted to once again partner with our client Washington H. Soul Pattinson and Company and their Pitt Capital Partners team on this transaction, which sees them adding a significant portfolio of agriculture and water assets to their portfolio, with the associated diversification benefits.

“The Pitt Capital and Argyle partnership holds great potential for WHSP to access this traditionally tightly held asset class.”

Second-oldest Aus-listed company WHSP acquires Argyle equity interests
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