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Minters and Greenwoods HSF help to put Retire deal to bed

Minters and Greenwoods HSF help to put Retire deal to bed

The sale of one of Australia’s largest retirement home operators has reaped more than $640 million.

Firms: Minter Ellison (Acquiring consortium); Greenwoods Herbert Smith Freehills (RetireAustralia Group)

Deal: The sale of the RetireAustralia Group

Value: $640.2 million

Area: M&A

Key Players: Minters had a large team to advise on this transaction. Tax partner Adrian Varrasso and M&A specialist Jeremy Blackshaw (pictured) were the lead partners, with support from a further five partners, including Robin Lyons, John Riley, David Eterovic, Bart Oude-Vrielink and Joanne Dunne. Senior associates Sam Lawson, Robert Yunan, Danielle Lim and Leigh Schulz were also involved, with additional support provided by associate Joshua Fast and lawyer Hariharan Sekhar.

Greenwoods Herbert Smith Freehills acted for RetireAustralia. Greenwoods Herbert Smith Freehills directors Daniel Sydes and Chris Colley led the firm’s team, with assistance from senior associate Vicky Shi and associate Melissa Chin.

Deal Significance: RetireAustralia is the fourth largest retirement operator in Australia. The firm has 28 villages across New South Wales, South Australia and Queensland and more than 3,700 independent living units and apartments. It was purchased by a New Zealand-based consortium, which included the infrastructure company Infratil and the government-owned New Zealand Super Fund. “Getting the deal over the line during the Christmas holiday break required well co-ordinated, responsive and integrated advice across Australian and New Zealand legal, regulatory, finance, tax and stamp duty issues,” said Blackshaw. Infratil and the New Zealand Super Fund each have a 50 per cent stake in RetireAustralia.

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Minters and Greenwoods HSF help to put Retire deal to bed
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