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ABL advises on $1.68 bn ASX listed pub property acquisition

Banking & Finance, Capital Markets, Corporate and M&A, Dispute Resolution & Litigation, Property & Development
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As reported in The Australian and the AFR, a cross-practice team, led by corporate and M&A partners Jeremy Leibler and Scott Phillips, has advised a consortium comprising Charter Hall Long WALE REIT and superfund Hostplus on its $1.68 billion cash and scrip buyout proposal of one of Australia’s biggest freehold pub property owners, ALE Property Group.

The Australian’s DATAROOM editor, Bridget Carter, reports that the deal will see Charter Hall’s pub portfolio more than double from $1.4 billion to $3 billion, while the AFR’s Street Talk column describes the deal as being “at a whopper 25.2 per cent premium to the last close and a 58 per cent premium to ALE Property Group’s last disclosed net tangible asset value”.

Jeremy and Scott have been supported by partners and lawyers advising on various aspects of the deal, encompassing property, litigation and banking & finance. 

The ABL team included: 

  • Partners: Tyrone McCarthy (Property & Development), Stephen Sharp (Banking & Finance) and Stephen Lloyd (Litigation)
  • Lawyers: Max Grunwald (Corporate and M&A), Emily Moreton (Property & Development) and Crosby Radburn (Banking & Finance), and 
  • Law graduate: Kaitlin Bakken (Corporate and M&A). 

To read the article in The Australian, click here.

To read the article in the AFR, click here.

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