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Host of firms earn seat on Flight Centre sale

Host of firms earn seat on Flight Centre sale

DLA Piper led a group of seven firms on the sale of what will be Flight Centre’s new global HQ in Brisbane.

Deal: Union Investment Real Estate purchases the Anthony John Group’s Southpoint commercial offering in Brisbane

Firms: DLA Piper (Union Investments); King & Wood Mallesons (South Bank Corporation); Herbert Smith Freehills (Flight Centre Limited); Allens and Minter Ellison (Anthony John Group); Corrs Chambers Westgarth (Woolworths); Ashurst (Queensland Government)

Value: $200 million

Area: M&A

Key Players: The DLA Piper team was led by Les Koltai (pictured), with assistance from special counsel Peter Faludi and senior associates Mahoney Smith and Astrid Beemster. This deal required sign-off from a host of parties. HSF acted for Flight Centre, and KWM for the South Bank Corporation, which is where Flight Centre’s HQ will be based. The Anthony John Group developed the Southpoint precinct, which will include a 16-storey office building, Emporium Hotel and a Woolworths supermarket. Allens and Minters acted for the Anthony John Group, with the latter firm handling the Woolworths side of the transaction. Corrs acted for Woolworths and Ashurst for the Queensland Government

Deal Significance: Union Investments involvement marks the first entry of the Hamburg-based company into the Australian market. “This will deliver a much-needed services hub to the suburb and will make a major contribution to completing the last and very important piece of South Bank,” said Anthony John Group chief executive Shane Bulloch.

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