Allens acts for Charter Hall on Folkestone acquisition
24 August 2018
Allens has advised Charter Hall Group (Charter Hall) on its proposed acquisition of Folkestone Limited (Folkestone).
The acquisition, structured as a scheme of arrangement, is valued at $205 million.
Lead partner, Stuart McCulloch said it was exciting to work with Charter Hall as it builds its social infrastructure and early learning portfolio.
'Charter Hall is a high growth company with an exciting strategy. The acquisition of Folkestone complements Charter Hall's existing funds management and property portfolio and will grow Charter Hall’s funds under management by $1.6 billion.
'The transaction is structured as a scheme of arrangement and provides that Folkestone shareholders will be entitled to receive $1.39 cash per share, comprising a Charter Hall cash consideration of $1.354 per share and a special dividend of $0.036 per share.
'The Allens team included Corporate M&A, Projects (Real Estate), Funds, Disputes and Investigations (Workplace Relations) and Banking and Finance expertise,' Stuart said.
The transaction was announced to the market on 22 August and is expected to be implemented by the beginning of November.
|Allens legal team||
Corporate team: Stuart McCulloch (Lead Partner); Marc Kemp, Partner, Funds; Dannie Hanna, Senior Overseas Practitioner; Anisha Desor, Overseas Practitioner; Tom Hall, Associate; Dennis Xin, Lawyer, Carolyn Loh, Lawyer; Elise Blume, Lawyer
Projects team: Alexandra Peace, Partner, Projects & Development; Annabelle Aland, Managing Associate, Projects & Development and Peter Brennan, Senior Associate
Other team members: Nicholas Adkins, Partner, Banking and Financial Services; Veronica Siow, Partner Disputes and Investigations; Edward Chuah, Senior Associate, Banking and Financial Services; Tegan Ayling, Senior Associate, Disputes and Investigations; Andrew Lee, Graduate, Banking and Financial Services
- Germaine GrahamSenior Corporate Communications Manager,
Ph: +61 2 9230 4639
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.