M&A team advise ARA Asset Management on the acquisition of majority stake in LOGOS Group
Corporate - 12 March 2020
Lander & Rogers has advised ARA Logistics Venture 1 Limited (the investing entity) and its parent ARA Asset Management Ltd. on its acquisition (by both subscription and transfer) of a majority stake in the LOGOS Group and its related bodies corporate (together the Logos Group).
As part of the deal, ARA Asset Management transferred its entire holdings in both the Cache Logistics Trust (a listed real estate trust) and the ARA investment management and asset management entities and roles to LOGOS. Through this transaction, the ARA group and the LOGOS Property Group have expanded their logistics real estate platform in the Asia-Pacific region.
Lander & Rogers advised on and prepared the FIRB application, and acted as lead counsel on the due diligence aspect of the transaction (including in connection with inception of the warranty and indemnity insurance policy). The due diligence concerned a target group of over 200 entities across multiple jurisdictions, and included analysis of key transaction and go-forward control, termination, fee security and other issues in respect of the more than 20 venture funds in which the LOGOS Property Group is invested. In addition, Lander & Rogers assisted international law firm Latham & Watkins to provide legal advice on multiple aspects of the transaction documents from an Australian law perspective.
Lander & Rogers' Joint Lead Partners Jared Smith and Deanna Constable note:
"It is always a thrill to be working with a world class client, alongside world class lawyers in respect of world class assets. The LOGOS team has created a globally noteworthy business and we are privileged to have partnered with the ARA team as it creates this expanded AsiaPac property investment platform."
Client Relationship Partner John Wells said:
"We were pleased to be able to continue to support ARA's rapid growth in the Australian marketplace across various sectors and transaction types. In particular it was a privilege to be entrusted by ARA with such a significant transaction involving numerous of our practice groups."
ARA Group CEO, Mr John Lim, said:
“This acquisition marks an exciting milestone for both ARA and LOGOS and we both look forward to expanding our logistics platform in Asia Pacific. LOGOS is one of the largest and fastest growing logistics real estate players in the region with a strong track record and its fund products are highly complementary to those of ARA. We will be able to offer our investors a comprehensive set of investment vehicles across the risk spectrum to meet their investment needs in the logistics real estate space via the new platform.”
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