K&L Gates Advises Moelis Australia on Acquisition of Redcape Hotel Group

30 June 2017

Sydney – Global law firm K&L Gates has advised Moelis Australia on its recently announced agreement to acquire Redcape Hotel Group. The acquisition is valued at AUD677 million and is expected to increase Moelis Australia's total assets under management to AUD2.5 billion by 31 December 2017. The deal completed on 10 July 2017.

K&L Gates advised Moelis Australia on all legal aspects relating to the acquisition of Redcape Hotel Group and the establishment of the Moelis Australia Redcape Hotel Group. The high-profile deal required capabilities across multiple practice areas, including corporate, investment management, property and banking.

The K&L Gates team advising Moelis Australia was led by corporate and transactional partner Hal Lloyd, and included investment management partner, Matthew Watts, real estate partner, Diane Skapinker, tax partner, Matthew Cridland, special counsel Brent Delaney, Vicki Aron, Zina Edwards and Ben Benson, and lawyers Jessica Tang, Mairead Murphy, Robyn Dimis, Edward Ryman and Andrew Chan.

Hal Lloyd said: “This is a highly strategic acquisition of one of Australia's largest hotel groups by Moelis Australia, following its recent IPO. K&L Gates has welcomed the opportunity to work again with Moelis Australia and congratulates Moelis on the transaction.”

The acquisition follows a string of transactions for K&L Gates' Australian corporate and transactional team that also have included:

  • advising ASX-listed fund manager Hunter Hall International Limited on its AUD3 billion merger with fund manager Pengana Holdings Pty Ltd and in relation to hostile takeover bids by WHSP and Pinnacle;
  • advising ASX-listed Homeloans on its merger with Resimac to create a home loans solutions provider with a AUD13 billion loan book ;
  • advising TechSafe, the largest independent electrical inspection company in Australia, on its acquisition by ASX-listed Service Stream Ltd; and
  • acting for Moon Lake Investments Pty Ltd on its acquisition of the assets of Australia's biggest dairy farming company, Van Diemen’s Land (VDL), from the Tasmanian Land Company Limited
  • advising Australian childcare provider Only About Children on the sale of a majority share to global alternative investment firm Bain Capital.
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