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Allens and Blakes take the challenge
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Allens and Blakes take the challenge

Allens Arthur Robinson and Blake Dawson have acted in Challenger Life Company's (CLC) proposed acquisition of 100 per cent of the units in Challenger Kenedix Japan Trust (CKT), valued at about…

Allens Arthur Robinson and Blake Dawson have acted in Challenger Life Company's (CLC) proposed acquisition of 100 per cent of the units in Challenger Kenedix Japan Trust (CKT), valued at about $157 million. Under the proposed transaction, CKT unitholders will receive $1 per unit.

Allens acted for CLC, which is a wholly owned subsidiary of ASX-listed investment management firm Challenger Financial Services Group, while Blakes advised CKT, an ASX-listed real estate investment trust which provides investors with exposure to a portfolio of Japanese retail properties.

Magic Circle firm Freshfields Bruckhaus Deringer was also in on the action, providing Japanese law advice to CLC in relation to the Japanese properties and management agreements.

The proposed transaction will occur via a trust scheme structure, subject to CKT unitholder approval, and CKT directors have recommended the transaction in the absence of a superior proposal. It is expected to be completed by February 2010.

The Allens team was led by partner Tom Story, and comprised senior associate Andrew Wong and lawyer Chris Blane, while the Blakes team comprised partners Michael Ryland, Sarah Dulhunty and Carl Della-Bosca.

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