Baker McKenzie is acting for Japan’s largest homebuilder as it acquires a major builder in New South Wales.
Daiwa House Industry is acquiring Rawson Group, the fifth-largest builder in the state, for an undisclosed amount. The deal is expected to close in January, subject to conditions including Foreign Investment Review Board approval.
Daiwa House Industry, which is listed on the Tokyo Stock Exchange, entered the Australian market in 2014 with a joint venture with EG Funds and Sumitomo Forestry. For its latest deal, the company, which has about 40,000 employees around the world, will buy most of the shares from Mark, Peter, and Lawrence Rawson.
For the transaction, Baker McKenzie fielded a cross-border team. In Japan, the team was led by Tokyo partner Tetsuo Tsujimoto and senior associate Tsubasa Kubota.
In Sydney, partner Ben McLaughlin, the firm’s head of corporate markets, led the team. He was supported by senior associate Lawrence Mendes and associate Emily Hunter.
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