NEWS

Allens advises Beijing Capital Group on acquisition of Transpacific New Zealand for NZ$950million

By Jeremy Low
China Mergers & Acquisitions Private Equity

Allens is advising Beijing Capital Group (BCG) on its NZ$950 million acquisition from Transpacific Industries Group Ltd (ASX: TPI) of its integrated waste management business in New Zealand.

BCG is one of China's leading State-owned infrastructure enterprises as well as one of China's most prominent real estate developers. BCG had in December 2013 total assets and revenues exceeding US$21 billion and US$3.7 billion respectively.

Allens is acting for BCG together with Russell McVeagh (New Zealand counsel) and Jun He (PRC legal counsel). Allens is global coordinating counsel and lead counsel on transaction documentation.

The Allens team is led by Partner Jeremy Low.

'We are very proud to be advising Beijing Capital Group on this important and strategic investment,' Mr Low said.

'With a Chinese SOE purchaser, an Australian ASX-listed vendor and a business located in New Zealand, this transaction showcases Allens' capability and expertise in managing complex cross-border M&A transactions and coordinating teams across jurisdictions.'

Mr Low, who was based in Allens China offices from 2002 to 2006, recently advised Telecom New Zealand Corporation on the sale of AAPT to TPG Telecom for A$450 million and Transpower New Zealand Limited on its sale of d-cyphaTrade Limited (ASX Energy) to ASX Limited for A$55 million.

Completion of the sale is expected to occur by the end of June 2014, subject to a small number of customary conditions precedent, including obtaining consent from the New Zealand Overseas Investment Office and Chinese regulatory approvals.

Allens legal team

Jeremy Low (Lead Partner – Sydney); Andrew Mansour (Partner – Sydney); Jim Parker (Partner – Sydney); Andrew Wong (Senior Associate – Sydney); Justin Chin (Senior Associate – Beijing); Ranny Fan (Senior Associate – Sydney); Shona Shang (Lawyer – Beijing); Tracy Lu (Lawyer – Sydney)

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Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.