Top firms advise on $1.6bn deal for PEXA

The transaction extends the trend of institutional investments into digital infrastructure opportunities in Australia, one firm says

Top firms advise on $1.6bn deal for PEXA

Two top firms are involved in the bid to acquire Property Exchange Australia (PEXA).

DLA Piper advised the consortium, comprised of Morgan Stanley Infrastructure Partner (MSIP), Link Group, and the Commonwealth Bank of Australia, on its successful bid to acquire 100% PEXA for an enterprise value of about $1.6bn.

Allens advised MSIP in the acquisition, which it said prevailed over a possible IPO as the preferred exit path for PEXA’s selling shareholders.

“PEXA is a rapidly evolving and very exciting digital infrastructure asset. The transaction extends the trend of institutional investments into digital infrastructure opportunities in Australia,” lead partner Emin Altiparmak said. “The transaction also marks MSIP's first investment in Australia, which we are very proud to support.”

PEXA was established after a meeting of the Council of Australia Governments in 2008. The council has championed the move to a nationwide, 100% electronic real estate document lodgement and settlement system.

MSIP, which is headquartered in New York, is an international infrastructure investor focused on a global OECD strategy.

The Allens legal team also include partner Tom Story, managing associate Noah Obradovic, senior associate Joshua Hoare, and lawyer John Jacob from the corporate - private equity group. Banking and finance partner Tom Highnam, managing associate Rita Pang, and associate Tim Sexton also provided expert advice.

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Trilby Misso Lawyers announces brand relaunch

Over 50% of UK chambers don’t expect to last six to 12 months, Bar Council study finds

Clayton Utz rings in new financial year with new deputy chief executive partners

Baker McKenzie appoints seven to practice and industry leaders in APAC

$65m equity raising for ASX-listed tech company sees completion with K&L Gates’s help

DWF shuts doors in Brussels and Singapore

Most Read Articles

JWS appoints new managing partner

Service to others is ‘a way of life’ for Maurice Blackburn principal

New managing partner celebrates first day on the job at Carroll & O'Dea Lawyers

McCullough Robertson attracts seasoned partner to insolvency and restructuring practice