Joint ventures

We help our clients successfully collaborate on joint venture opportunities.

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Joint ventures require a willingness to work with other parties and an open approach to business opportunities. We see it as our role to facilitate transactions, help the parties harness their enthusiasm for opportunities while ensuring that the many possible permutations of outcome are addressed in a comprehensive way to give both certainty and direction to the joint venture. Our experience includes acting for new entrants to New Zealand who wish to do business with a local partner, combinations to add scale and reach alignment of expertise and capital.

As a recent example, our team acted for GIC Real Estate, the property investment arm of the Singapore sovereign wealth fund on its first investment in New Zealand. This investment was made with publicly listed property owner and manager Goodman Property Trust. This brought together two very experienced industry participants to create a new large scale property business, focused on the Auckland waterfront and CBD area.

We have experience in a wide range of transaction forms, including companies, unlimited liability companies, limited partnerships, special partnerships, trusts and unincorporated or contractual joint ventures.

As a full service firm Bell Gully can offer experts in competition, tax and finance to complement the work of our corporate teams on joint venture projects and litigation resources to assist in joint venture dispute resolution. 

Air New Zealand's alliance with Air China
Advised Air New Zealand and Air China on a strategic alliance allowing joint sales for a new daily direct service between Auckland and Beijing. The alliance received approval from New Zealand Minister of Transport Hon Simon Bridges in September 2015. Under the alliance Air New Zealand will continue to operate daily between Auckland and Shanghai and Air China will operate the new service between Auckland and Beijing. The two carriers will codeshare on each other's services between New Zealand and China.

GIC partnership with Goodman Property Trust
Advised one of the world's largest investment funds, GIC Real Estate, on its first investment into New Zealand – the NZ$313 million partnership with Goodman Property Trust to co-invest in commercial office buildings in the Viaduct Quarter.

Cofely Australia role in Christchurch rebuild
Advised Cofely Australia (ultimately owned by French electric utility company Engie, previously known as GDF Suez) on its role in the Christchurch District Energy Scheme, a core component of the Christchurch rebuild. In particular, we advised Cofely on its joint venture arrangements with Pioneer Generation.

Insurance marketing joint venture
Acting for an industry body on the establishment of a joint venture for the marketing of insurance services to members. The joint venture combines industry experts with a member network to create a compelling new business that either party could not achieve alone.

11Ants Analytics joint venture
Advised Air New Zealand and Aimia, a Canadian marketing and loyalty analytics company, on the acquisition of Waikato University spinoff 11Ants Analytics, which sells a cloud-based customer service platform. Advised Air New Zealand on the shareholders' agreement entered into with Aimia and acted for the joint venture on the ensuing acquisition.

Crown Fibre Holdings ultra-fast broadband initiative
Advised Crown Fibre Holdings, a Government-owned investment vehicle, on New Zealand's ultra-fast broadband initiative. Underlying the agreements with the four successful bidders is complex, bespoke legal documentation designed by our team. It encompasses a unique set of factors including complex regulatory and tax issues. The agreements include  three different joint venture forms, including a highly innovative Local Fibre Company joint venture model. This had no specific precedent and numerous areas of legal innovation driven by the Government's investment requirements.

Ngāi Tahu Property joint ventures
Acting for Ngāi Tahu on a number of joint ventures, including in association with the redevelopment of Christchurch and on its wider investment activities throughout the country.

Waikato-Tainui joint venture with Sealord
Advised Tainui Group Holdings on its joint venture with New Zealand's second largest seafood company Sealord. The joint venture involved the contribution and management of annual catch entitlement (ACE) and is designed to allow Tai nui Group Holdings to improve its returns from its ACE.  

Metro Performance Glass restructure
Acted for the senior financiers that took ownership of the business as part of a debt and equity restructuring in 2012. We were involved in preparing the agreement between the various financiers that provided key governance on how they would hold their investment, who would manage the business, and how an eventual exit would be managed. It culminated in the initial public offering (IPO) of Metro Performance Glass in 2014 which we also advised on.

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  • Anna Buchly

    Partner Auckland
  • David Coull

    Partner Wellington
  • Garry Downs

    Partner Auckland
  • Dean Alderton

    Partner Auckland