A telecoms giant has unlocked value from assets with the help of the firm’s dealmakers
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King & Wood Mallesons (KWM) has confirmed its role in Telstra’s $700m strategic sell down of a chunk of its exchange properties.
The leading firm advised the telecoms giant in selling 49% of a newly established unlisted property trust to Charter Hall. Arnold Bloch Leibler earlier confirmed its role on the deal.
As part of the deal, 37 of Telstra’s existing exchange properties are transferred to the trust, which will still be 51%-owned by the company. Telstra will also retain operational control of all properties via long-term triple-net lease agreements that have an average term of 21 years, KWM said.
KWM’s team was headed by partners Cheng Lim, Nicole Heller, David Bell, Justin Cherrington, Katrina Parkyn, David Eliakim, Henrik Moritz, Katherine Forrest, and Anne-Marie Neagle.
KWM also tapped multiple practices to work on the deal. The team included Capucine Hague, Matthew Ward, Stephen Sheehy, Phil Marr, Amanda Kazacos, Ari Rosenbaum, Charlie Detmold, Charles Westh, Jedd Watmore-Tanner, Mizu Ardra, and Chloe Walker, it said.
