Media release: Clayton Utz advises AVID on its acquisition of AVJennings

The acquisition, structured as a scheme of arrangement, will see AVJ, which was listed on the ASX and quoted on SGX Global, transition to private ownership under AVID — one of Australia's largest residential property developers.

A multi-disciplinary Clayton Utz team advised on the transaction, led by Partner Rory Moriarty and Special Counsel Sam Pullin, who oversaw all aspects of the transaction with key support from Partners Eva Oraham, Pete Feros, Brett Cook, Amanda Lyras, Jon Slater and Kirsten Webb, Special Counsels Ben Pierce and Candace Hennessy, Senior Associates Victoria Hu and Dilip Ramaswamy, and lawyers Alana Dunn and Rachel Hurwitz. Partners Kate O'Donovan and Alexander Schlosser acted on the debt/financing aspects of the transaction with Kate taking the lead on the Senior debt package with ANZ and Alex taking the lead on the structurally subordinated Mezzanine debt package with Metrics.

Commenting on the deal, Mr Moriarty said:

"Clayton Utz is delighted to have assisted AVID on this transaction. It’s a significant moment for AVID and a strong signal of confidence in Australia’s residential property market and broader M&A environment."

The deal highlights continued activity in Australia's property and M&A sectors