AXA Investment Managers’ A$700 Million Acquisition of Forestry Portfolio in Australia

King & Wood Mallesons acted as legal counsel to both the syndicate of financiers funding AXA Investment Managers’ successful acquisition of the ‘Green Triangle Forest Products’ forestry portfolio, and AXA.

AXA IM Alts has made its largest investment yet in timberland, with the acquisition of the Green Triangle Forest Products estate in Australia from US-based Global Forest Partners.

The plantations comprise over 22,000 hectares of sustainably managed pine plantations along the Victorian and South Australian borders in an area known as the ‘Green Triangle’. Specific details of the transaction are not being publicly disclosed, however the transaction is understood to be the biggest timber industry sale in Australia since 2012.

The acquisition will increase the €162bn alternatives investment manager’s forestry portfolio from a current 58,000 hectares located in France, Iceland and Finland to over 80,000 hectares.

The syndicate comprised of the Commonwealth Bank of Australia and National Australia Bank. 

The KWM team advising the financiers was led by Jonathan Oldham (Picture), with Senior Associates Stuart Alexander and Marcus Wettenhall and Solicitors Ivor Wong and Andrea Pandazopoulos. A separate KWM M&A team led by Partner Heath Lewis advised AXA in relation to acquisition aspects of the transaction. King & Wood Mallesons Japan assisted with Japanese foreign law aspects in an example of the firm’s strength to facilitate transactions across multiple jurisdictions in Asia.

Involved fees earner: Ivor Wong – King & Wood Mallesons; Stuart Alexander – King & Wood Mallesons; Heath Lewis – King & Wood Mallesons; Jonathan Oldham – King & Wood Mallesons; Andrea Pandazopoulos – King & Wood Mallesons; Marcus Wettenhall – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: AXA Investment Managers; Commonwealth Bank of Australia; National Australia Bank;

Sonia Carcano

Author: Sonia Carcano