Ashurst has advised IFM Investors (IFM) on the sale of its shareholding in Scottish Pacific Group Limited (Scottish Pacific).

IFM sold down its 12.4% stake in a block trade managed by J.P Morgan Australia Limited after the company's shares in Scottish Pacific came out of escrow on 29 August 2017 after Scottish Pacific released its results. The sale price of A$2.70 per share means the sale will raise gross proceeds of approximately A$46.6 million.

The team was led by partner Sarah Dulhunty (Corporate) and included lawyer Kristen Wong (Corporate).