Mallesons Stephen Jaques is acting for Stockland Development Pty Limited on its off-market $266 million all-cash takeover bid for Aevum Limited, a retirement village owner and operator advised…
Mallesons Stephen Jaques is acting for Stockland Development Pty Limited on its off-market $266 million all-cash takeover bid for Aevum Limited, a retirement village owner and operator advised by Minter Ellison.
According to Mallesons, retirement living is a key strategic growth area for Stockland and, if successful, the offer will almost double the size of Stockland's current retirement living business.
"Stockland has been a substantial investor in Aevum for some time, and is now offering to acquire control of the company as part of a broader strategy to build its retirement living business," said Bednall.
Aevum owns 29 established retirement villages across Australia, as well as a development pipeline of around 800 units in the pipeline.
