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
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.