Unless people think they will risk breaking the law, there's no need for concern on the arm's length principle. There's nothing prohibiting parties being related in contract law.
The only issue that needs to be satisfied is that the transaction is conducted transparently at the prevailing market rates, as per the announcement stated. So as to remove any party having undue influence or the tax man having a problem.
Assuming they have a third party valuer taking part, this is a non issue.
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