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Global Express sold to Allegro Funds
Global law firm Ashurst has advised Toll and Japan Post on the sale of Global Express to Allegro Funds.
Emma Musgrave
Firm: Ashurst (Toll and Japan Post).
Value: Undisclosed.
Area: M&A.
Key players: The legal team advising Toll and Japan Post was led by Ashurst partners John Brewster and Natsuko Ogawa. The pair were supported by other partners and lawyers from all practice groups across various offices including Melbourne, Tokyo, Sydney, Brisbane and Singapore.
Deal significance: The Global Express business provides express parcel, freight delivery and domestic forwarding services in Australia, and transport and contract logistics services in New Zealand.
As per a statement provided by Ashurst, the sale of the business to Allegro Funds is subject to regulatory approvals and other customary closing conditions with the transaction targeted for completion by 30 June 2021.
Ashurst advised on all aspects of the transaction, including M&A, structuring, financing, tax, stamp duty, separation, FIRB and other regulatory matters, IP, IT, employment and IR issues and property matters, the statement noted, with partner Mr Brewster adding: “Together with Toll, Ashurst has managed a number of complex legal and commercial issues to reach this point in the sale process and meet the key objectives of Toll’s shareholder, Japan Post.
“Signing the transaction documentation marks a significant milestone in this sale process which commenced in August 2020. We have been delighted to support Toll and Japan Post on this major transaction.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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