Quick turn-around for $5m sale

by Hannah Norton07 Aug 2015
A top tier firm and a major firm advised on the sale of Christchurch-based finance company Southern Finance Ltd to the listed Turners Limited, the owner of Dorchester Finance.

Roger Wallis, partner, and Philip Ascroft, solicitor, of Chapman Tripp acted for Turners.

Anthony Harper acted for the shareholders of Southern Finance, with their deal team led by corporate advisory partner Malcolm Hurley and banking and finance partner Nigel Oliver and solicitor Jordan Hopkins.

The deal was settled last Friday, and had a value of $5m.

“The deal was negotiated and agreed with very quickly as the clients wanted it that way,” Hurley told NZLawyer.

“Both law firms worked together really very quickly. From our point of view, it’s a little bit sad as we’ve worked with Southern Finance for a very long time, but it was great to get that result for the client.”

Southern Finance was started in 1996 by Bert Govan, the Wilkins family and Layton Andrew, with an initial focus on car loans before it expanded into wider financial services.