Media Release: Clayton Utz advising Peet on $1 billion scheme of arrangement with Ingenia Communities Group

Corporate partners Mark Paganin  and Stephen Neale are leading the firm's team, with key support from senior associates William Davies, Laura van Stekelenburg, Victoria Bandurski, and lawyers Imogen Farmer and Susann Ndong'a. Other core team members include partner Rohan Mishra and senior associate James Allen (Banking and Finance), partner Kirsten Webb and senior associate Amy Hayes (Competition) and partners Jonathan Donald and Keshni Maharaj, special counsel Alex Melara and senior associate David Wong (Tax).

Peet is a leading Australian residential developer with a development pipeline of approximately 26,400 lots nationwide. The scheme will combine Ingenia's land lease and lifestyle rental model with Peet's extensive pipeline, creating one of Australia's largest residential development pipelines. The combined group is expected to rank as the 13th largest ASX-listed real estate group, with an estimated market capitalisation of $2.4 billion. Peet shareholders are anticipated to benefit from increased trading liquidity and greater institutional broker coverage as part of the S&P/ASX 200.

Under the scheme implementation deed, Peet shareholders will receive a mix of Ingenia stapled securities and cash for each Peet share. The scheme's implementation is subject to a number of customary and other conditions, including but not limited to approval by Peet shareholders, the Court, and the Australian Competition and Consumer Commission.