Buddle Findlay is delighted to have acted as lead counsel for ANZ Bank New Zealand (ANZ) as facility agent and security trustee, and for each of the other lenders party to the banking syndicate to provide senior debt facilities to Stonepeak Alps Bidco (Stonepeak), allowing Stonepeak to acquire, by way of scheme of arrangement, all the shares of Arvida Group (Arvida).
Arvida is one of New Zealand's largest retirement and aged care providers, offering a range of living options to meet the needs of residents from independent living to full rest home, hospital and dementia-level care. Arvida operates 35 retirement villages throughout New Zealand.
New York-headquartered Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately US$71.2b of assets under management.
Paul Farrugia led the Buddle Findlay team and commented "It was fantastic to work closely with the lenders and the Bell Gully/Stonepeak team under a tight timeframe. Funding the acquisition of a listed entity via a scheme of arrangement requires a strong team effort and we were able to draw on our breadth of experience from recent schemes of arrangement and other high-profile acquisitions. It was a privilege for our team to play a role in this acquisition".
