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Moelis buys into Aus hotel group

Moelis buys into Aus hotel group

Deal, acquire, buy

Investment company Moelis Australia has been advised on an agreement to acquire an Australian hotel group.

Firms: K&L Gates (Moelis Australia); Arnold Bloch Leibler (Redcape Hotel Group)

Deal: Moelis Australia reached an agreement to acquire Redcape Hotel Group.

Value: $677 million

Area: M&A

Key players: The K&L Gates team advising Moelis was led by partner Hal Lloyd (pictured), and included partners Matthew Watts, Diane Skapinker and Matthew Cridland; special counsel Brent Delaney, Vicki Aron, Zina Edwards and Ben Benson; and lawyers Jessica Tang, Mairead Murphy, Robyn Dimis and Edward Ryman.

Deal significance: Investment company Moelis Australia, a division of US-based Moelis & Company, has reached an agreement to acquire Redcape Hotel Group.

The acquisition is worth $677 million and is expected to increase Moelis Australia’s assets under management to $2.5 billion by the end of the year, according to a statement from K&L Gates.

The firm advised Moelis on all aspects of the acquisition and the establishment of the Moelis Australia Redcape Hotel Group.

“This is a highly strategic acquisition of one of Australia’s largest hotel groups by Moelis Australia, following its recent IPO,” said lead partner Hal Lloyd.

“K&L Gates has welcomed the opportunity to work again with Moelis Australia and congratulates Moelis on the transaction.”

The acquisition is expected to be completed this month.

 

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