Allens has advised First State Super on its successful $2.86 billion bid for a concession to operate the land titles and registry functions of Land Use Victoria for a 40-year term. The proceeds will be invested in new schools, hospitals and transport projects in Victoria.
The win follows Allens' work with First State Super on its successful bid in 2017 to operate a 35-year concession on the land titling and registry operations of NSW Land and Property Information.
First State Super is one of Australia's largest superannuation funds with over $90 billion under management.
A team spanning Allens' M&A, Technology, Media & Telecommunications, Banking & Finance, IP, Tax, Real Estate, Competition and Employment teams advised on all aspects of the transaction.
'We are delighted to have continued our work with First State Super on this landmark win,' said lead Partner Jeremy Low.
'The result reflects continuing appetite for privatisation in the market, as well as the growing appeal to institutional investors for critical infrastructure of technology and data assets.'
Allens legal team
M&A: Jeremy Low (Lead Partner), Chris Blane (Partner), James Nguyen (Senior Associate), Tom Hall (Associate), Elise Blume (Lawyer), Miles Ma (Lawyer), Ryan Nash (Lawyer)
Technology, Media & Telecommunications: Valeska Bloch (Partner), Gavin Smith (Partner), Phil O'Sullivan (Managing Associate), Jessica Selby (Senior Associate), Alex Ortner (Associate), Ying Chin (Lawyer), Katherine Tsatsaklas (Law Graduate)
Banking & Finance: Tom Highnam (Partner), Nicholas Adkins (Partner), Ben O'Hoy (Partner), Damon Angus (Finance Counsel), Sunny Jong (Senior Associate), Zac Kedgley-Foot (Associate), Saurabh Narain (Law Graduate)
Competition, Consumer & Regulatory: Ted Hill (Partner), Christopher O'Yang (Associate)
Employment: Veronica Siow (Partner), Tarsha Gavin (Senior Associate)
Tax: Charles Armitage (Partner), Adrian Chek (Partner), Tom Tian (Senior Associate)
Funds, Super, Wealth: Geoff Sanders (Partner), Simun Soljo (Partner)
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.