Zenith Investment Partners Pty Ltd entered into an agreement to acquire Chant West Pty Limited from Chant West Holdings Limited (ASX:CWL) for AUD 12 million on February 18, 2020. The transaction will take place by way of asset sale. The transaction is subjected to an escrow of AUD 1.25 million, customary working capital and other transaction adjustments and the approval of Chant West Holdings Limited shareholders. The transaction is expected to close by the end of March 2020. As of April 6, 2020, Chant West Pty Limited has decided to bring proceedings compelling in order for the transaction to be completed. Certain allegations were made citing the occurrence of material adverse change in the business. Chant West Pty Ltd and CW Bidco Pty Ltd have reached a settlement of the proceedings commenced in the Supreme Court of New South Wales. Andrew Crook, Jacob Kahwaji and Alice Bradshaw of Clifford Chance acted as legal advisors to Zenith Investment Partners Pty Ltd.