Jurisdiction - Australia
Ashurst Advises Novion On Merger With Federation Centres.

11 June, 2015


Ashurst has advised Novion Property Group (Novion) on its AUD 12bn merger with Federation Centres (Federation) which today created one of the largest real estate investment trusts in Australia, and an ASX top 30 entity with over AUD 22bn in assets under management. The Merged Group will have more than 5,000 retailers occupying the 102 retail centres managed by the Group. The merged entity has a market capitalisation of more than AUD 12bn.


Co-lead partner on the deal Kylie Lane said: “Ashurst is delighted to have assisted Novion Property Group on this landmark merger. This transaction has created one of the leading real estate investment trusts in the country with strong growth opportunities.


“We wish to congratulate our client Novion and their internal legal team led by Brian McFadyen.”


Lead partners on the deal were Garry Besson and Kylie Lane, with support from partners Anton Harris and Michael Ryland. Partner Bill Reid led the ACCC clearance process and partner Jennie Mansfield advised on employment. Partners Paul Jenkins and Nigel Pridmore advised Novion on debt capital markets and banking aspects.


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