Minter Ellison Rudd Watts and Chapman Tripp have helped bring together Rural Equities Limited (REL) and the New Zealand Rural Property Trust (NZRPT) to create the only publicly available portfolio of rural properties in the country. Minter Ellison Rudd Watts advised NZRPT on the deal and Chapman Tripp acted for REL.

Chapman Tripp corporate partner John Holland worked closely with Minter Ellison Rudd Watts’ Lloyd Kavanagh to put together a deal that appealed to both sets of shareholders. Their success was evident in the unanimous support of REL shareholders and 96% support of NZRPT shareholders for the deal.

REL currently holds almost 63% of the NZRPT units on issue, and manages the trust through a subsidiary. NZRPT owns a diversified NZ$200m portfolio of 30 high quality rural properties, livestock and other farm assets, and a small forest.

Rural Equities will now have 1562 shareholders and shares will be traded on the Unlisted and ShareMart trading platforms. REL chairman Sir Selwyn Cushing said the board of Rural Equities would consider a listing on the NZX in the New Year and with it the prospect of further legal work for Chapman Tripp.