King & Wood Mallesons has acted for Australia Post on its acquisition of Qantas Airway’s 50 per cent stake in freight group StarTrack Express, and divestment of its stake in air freight business Australian Air Express to Qantas.
The joint venture arrangements were established in 2003, and Qantas and Australia Post each currently own 50 per cent of both StarTrack Express and Australian Air Express.Under the deal, Australia Post will take full control of StarTrack Express by acquiring Qantas’ stake in the joint venture, and Qantas will take full control of Australian Air Express by acquiring Australia Posts’ stake in the joint venture.
The King & Wood Mallesons team was led by Partner Craig Semple who was supported by solicitor Robert Kelly.
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