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Allens takes care of sale
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Allens takes care of sale

Australian Aged Care Partners has acquired Lend Lease’s aged-care business.

Firm: Allens (Lend Lease Group)

Deal: Sale of Lend Lease Group’s aged-care business to Australian Aged Care Partners

Area: Corporate

Value: $270 million

Key players: Partner Tom Story and senior associate Bob Speed led the Allens team on the overall transaction, including advising on the structuring of the promissory note issued to Lend Lease. Partner Gavin Smith and senior associate Nathan Shepherd advised on transitional services arrangements

Deal significance: Lend Lease's decision to sell the business, which owns and manages 30 aged-care facilities across Australia, is in line with the group's continuing focus on capital recycling and the divestment of non-core businesses.

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