Becton Living builds its strength with new strategic partnership

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Top end village operator, Becton Living, has had its reputation recognized by the Oman Investment Fund (OmIF), which is wholly owned by the oil rich Government of Oman. OmIF has joined with Becton to form a strategic partnership called the Retirement Alliance to own, manage and build Becton’s retirement village portfolio in Australia. Each will have 50% ownership. While OmIF has invested $2 billion around the world since 2006, this is its first investment in Australia. Stuart Nicolson, MD of Becton Living and chief negotiator of the deal, says it’s a great result for residents, staff and shareholders because OmIF is a long-term partner wanting to build on the Becton Living brand. The partnership has taken over eight months to assemble and was signed on Easter Monday night. OmIF also purchased 9.9% interest in parent Becton Limited.