New Zealand Rural Land Company Limited – Restructure and sale of property portfolio
Advised NZRLC on transferring 14,487ha of rural land to a new limited partnership and selling a 25% equity stake to Roc Partners for NZ$44.2m.
The project involved transferring 14,487 hectares of rural land, predominantly dairy and forestry, and all interests and property rights held in relation to those properties, from NZRLC's subsidiary, NZRLC Dairy Holdings Limited, to a new limited partnership, New Zealand Rural Land Investments Limited Partnership.
The transfer to New Zealand Rural Land Investments Limited Partnership was to facilitate NZRLC selling a 25% equity interest in its land portfolio to Roc Partners (an Australian specialist private markets investment manager) for NZ$44.2m. Greenwood Roche also successfully acted for NZRLC on the property and finance aspects of the sale to Roc Partners.
The Greenwood Roche team was led by Anthony Staples (Partner), Renée de Lisle (Principal) and Kurt McRedmond (Principal), with specialist input from other lawyers within the firm.
