King & Wood Mallesons (KWM) has advised Apollo Global Management on the successful block trade of 70.6 million ordinary shares in Challenger Limited valued at $460 million.
Settled on 9 September, the shares were sold to institutional investors via an underwritten book build. Apollo Global Management reduced its shareholding in Challenger from 20.1 per cent to 9.9 per cent.
The KWM team advising on the transaction was led by partner, Mark Vanderneut with assistance from solicitors Katherine Chork and Gillian Xu and law graduate Dylan Gardiner. Senior Associate Amanda Kazacos advised on the tax aspects of the transaction.
Commenting on the transaction Mark said:
"We are pleased to have advised Apollo Global Management on this significant trade, the proceeds from which will enable the redeployment of capital to other growth opportunities."
