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Fraser Island resorts acquired for $43m

Kain Lawyers has advised SeaLink Travel Group on its multimillion-dollar acquisition of the Fraser Island’s Kingfisher Bay Resort Group.

user iconJerome Doraisamy 28 February 2018 Big Law
Fraser Island resorts acquired for $43m
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Firm: Kain Lawyers (SeaLink Travel Group); Undisclosed (Fraser Island’s Kingfisher Bay Resort Group)

Deal: Kain has advised SeaLink Travel Group Ltd on the acquisition of Fraser Island’s Kingfisher Bay Resort Group, which includes the two island resorts, Kingfisher Bay Resort and Eurong Beach Resort, as well as Fraser Explorer Tours and the Fraser Island Ferry business.

Value: $43 million

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Area: Mergers & acquisitions

Key players: The Kain team advising SeaLink was led by Kain Lawyers director, Corporate and M&A, James Burchnall, with assistance from associate director Brian Vuong and lawyers Freya Sinickas and Shaun Scott.

Kain worked closely with SeaLink general counsel Paul Blewett.

Deal significance: SeaLink CEO Jeff Ellison said the company was delighted to acquire Kingfisher Bay Resort Group.

“Fraser Island is one of the most iconic destinations in Australia and is famous throughout the world for its World Heritage listed wonders,” he said.

“Kingfisher Bay Resort Group is by far the major hospitality, touring and transport operation on Fraser Island, and we are delighted to be taking ownership of this leading tourism business to drive future protection, promotion and growth of the island.”

Mr Burchnall added that the firm was thrilled to have been involved in another transaction for SeaLink, as they continue their growth trajectory in the tourism and transport space.

“This transaction has a strong alignment with SeaLink’s existing operations and enhances SeaLink’s position as a major provider of connections to Australian tourism icons,” he noted.

The transaction marks a kick-start to a busy year ahead for Kain, with managing director John Kain adding that 2018 will be a bigger year in the M&A space for the firm than 2017.

“We’re excited to continue to provide opportunities to our clients and team as we continue to grow and work on these major transactions,” he said.

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