The transaction, which is unique within New Zealand, could be adopted by other non-core Crown entities, the firm said
Earlier this month, the nation’s largest conflict-management and dispute-resolution services provider was sold by the Crown to its employees for $6.5m. MinterEllisonRuddWatts helped structure the trust established for the benefit of Fairway’s more than 200 staff and contractors.
The firm’s Wellington corporate team was led by partner Paul Foley. The team advised the FairWay board and management on the transfer of ownership, negotiated with the Crown, crafted the final ownership and governance models, finalised financing for the deal, and established the trust for the new owners.
Foley said the novel transaction could become a model for other Crown entities.
“To our knowledge, the transaction is unique within New Zealand and could be adopted by other non-core Crown entities seeking to realign their ownership with the appropriate delivery of their services, which for FairWay involves independence, customer service, quality and privacy,” he said.
Crown sells NZ’s largest conflict management company
This trend could be a game-changer for NZ’s sliding capital markets