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McCullough Robertson lands role on listing
Lawyers from McCullough Robertson’s Brisbane office acted on a major recent real estate investment trust listing.
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Firms: McCullough Robertson (Rural Funds Group)
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Deal: The Rural Funds Group combines three unlisted agricultural funds holding vineyards, chicken-growing operations and almond orchards. It listed on the ASX in mid-February as RFF
Value: $120 million
Area: Capital markets
Key Players: The transaction was handled by McCullough Robertson’s Brisbane office, with corporate advisory and financial services partner Sean Robertson (pictured) leading the firm’s team. He was assisted by tax partner Hayden Bentley and property partner Kristan Conlon
Deal Significance: This deal signifies the opportunities to be found in the agribusiness sector, with RFF also flagging that it plans to further expand.
In releasing its half-year financial results last week, RFF posted an after-tax loss of $3.6 million. However, the company said that that result is not indicative of RFF’s future performance and it remains on-track to achieve forecasts for the full year.
“The transaction involved merging three trusts, de-merging certain assets to a second trust, listing the main trust, with the second trust listing on the National Stock Exchange in early March,” said Robertson. “It was necessary to prepare a comprehensive disclosure document which explained a complex transaction to a multitude of investors.”
