Allegro Funds’ Acquisition Of Global Express From Toll and Japan Post

Ashurst has advised Toll and Japan Post on the deal. Herbert Smith Freehills has advised Allegro Funds.

Toll and Japan Post sold Toll’s Global Express business to Australian private equity fund manager Allegro Funds. The Global Express business provides express parcel, freight delivery and domestic forwarding services in Australia, and transport and contract logistics services in New Zealand.

The sale is subject to regulatory approvals and other customary closing conditions with the transaction targeted for completion by 30 June 2021.

The Ashurst team was led by partners John Brewster (Picture) and Natsuko Ogawa supported by other partners and lawyers from all practice groups across various offices including Melbourne, Tokyo, Sydney, Brisbane and Singapore.

The Herbert Smith Freehills team was led by partners Paul Apáthy, Andrew Rich, Nikki Smythe and Steven Catanzariti, who advised Allegro on the acquisition, including detailed diligence, acquisition structuring and financing. Support was provided by partners Leon Chung, Calvin Ho, David Hugo, Drew Pearson, Kristin Stammer and Kwok Tang, special counsel Nerida Jessup, senior associates William Chew, Kimberley Lean, Jie Li, Tess Mierendorff, Rommo Pandit, Amy Repse, Kara Reynolds, Joshua Santilli, Graeme Tanner and Caitlin Walker, solicitors Darran Devlin, Ting Fan, Lucinda Grant, Lauren Jeffries, Joel McDonald, Annabel McCullagh, Henry Meehan, Fiona Poh, George Psaltis, Caroline Talbert, Angela Taraborrelli and Laura Webster, and graduates Mitchell Brunker and Crusoe Flynn-Pittar.

Involved fees earner: John Brewster – Ashurst; Natsuko Ogawa – Ashurst; Paul Apathy – Herbert Smith Freehills; Steven Catanzariti – Herbert Smith Freehills; William Chew – Herbert Smith Freehills; Leon Chung – Herbert Smith Freehills; Darran Devlin – Herbert Smith Freehills; Calvin Ho – Herbert Smith Freehills; David Hugo – Herbert Smith Freehills; Nerida Jessup – Herbert Smith Freehills; Kimberley Lean – Herbert Smith Freehills; Jie Li – Herbert Smith Freehills; Joel McDonald – Herbert Smith Freehills; Tess Mierendorff – Herbert Smith Freehills; Rommo Pandit – Herbert Smith Freehills; Drew Pearson – Herbert Smith Freehills; Fiona Poh – Herbert Smith Freehills; George Psaltis – Herbert Smith Freehills; Amy Repse – Herbert Smith Freehills; Kara Reynolds – Herbert Smith Freehills; Andrew Rich – Herbert Smith Freehills; Joshua Santilli – Herbert Smith Freehills; Nikki Smythe – Herbert Smith Freehills; Kristin Stammer – Herbert Smith Freehills; Caroline Talbert – Herbert Smith Freehills; Kwok Tang – Herbert Smith Freehills; Graeme Tanner – Herbert Smith Freehills; Caitlin Walker – Herbert Smith Freehills;

Law Firms: Ashurst; Herbert Smith Freehills;

Clients: Allegro Funds Pty Ltd; Japan Post Holding;

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Author: Sonia Carcano