Baker & McKenzie advises Indigenous Land Corporation on completion of Ayers Rock Resort purchase
Deal Announcement
27 May 2011
Sydney, Australia, 27 May 2011 – Baker & McKenzie advised the Federal Government-owned Indigenous Land Corporation (ILC) on the completion of its purchase of Ayers Rock Resort from the GPT Group. The transaction completed on 23 May 2011 and the total purchase price for the Resort is A$300 million plus a share of the "valuation uplift".
The acquisition involves the purchase of 100,000 hectares of land, six hotels, a backpacker lodge and camping ground, the town of Yulara, and Ayers Rock Airport.
The team at Baker & McKenzie was led by M&A partners Ben McLaughlin and Robert Williams and Finance partner Bryan Paisley.
Speaking about the transaction, Ben McLaughlin said, "We are delighted to have successfully completed this significant Australian resort purchase for our client, ILC. We congratulate ILC on this iconic acquisition."