find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Real Estate & Projects Lawyer (6+ years PAE)
Category: Property Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Top tier firm with offices nationally · High profile clients
View details
Allens, Blakes, act on Challenger acquisition

Allens, Blakes, act on Challenger acquisition

Allens Arthur Robinson and Blake Dawson are acting on the Challenger Life Company Limited on the proposed A$157 million acquisition of 100 per cent of the units in Challenger Kenedix Japan Trust.

ALLENS Arthur Robinson is acting for Challenger Life Company Limited (CLC) on the proposed A$157 million acquisition of 100 per cent of the units in Challenger Kenedix Japan Trust, announced yesterday. 

Blake Dawson acted for the target entity, while Freshfields provided Challenger Life Company with Japanese law advice in relation to Japanese properties and management agreements. 

Under the proposed transaction, CKT unitholders will receive $1.00 cash per unit.

CLC is a wholly owned subsidiary of ASX-listed investment management firm Challenger Financial Services Group Limited. CKT is an ASX-listed real estate investment trust which provides investors with exposure to a portfolio of Japanese retail properties.

The transaction is to be effected via a trust scheme structure and is subject to CKT unitholder approval and satisfaction of certain other conditions. CKT directors have recommended the transaction in the absence of a superior proposal, with completion expected in early February 2010.

Allens partner Tom Story, with senior associate Andrew Wong and lawyer Chris Blane, advised CLC on the terms of the transaction. This involved providing advice on the optimal transaction structure and negotiating the transaction implementation agreement, having regard to the CKT's 'Tokumei Kumiai' (TK) structure via which CKT invests in the Japanese real estate market.

According to Story: "We needed to carefully consider the extent to which standard arrangements for trust schemes would be appropriate for this deal, given the complex nature of CKT's TK structure."

Fort Street Advisers is acting as financial adviser to CLC on this transaction.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Allens, Blakes, act on Challenger acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
Aug 21 2017
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...