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Two firms have advised on a deal which saw a high-profile travel booking website undertake an entitlement offer to raise approximately $164 million.
Firms: Ashurst (UBS AG, Australia Branch and Credit Suisse – Australia – Limited); DLA Piper (Webjet Limited);
Value: $164 million
Area: Finance
Key players: The Ashurst legal team was led by corporate partner Sarah Dulhunty.
Deal significance: According to a statement from Ashurst, under the entitlement offer, eligible shareholders are invited to subscribe for 1 new ordinary share in Webjet for every 6 existing Webjet shares held at the record date.
The entitlement offer is being fully underwritten by UBS and CS, the firm said.
In addition, Ashurst noted that the proceeds of the entitlement offer will go towards partly funding Webjet’s acquisition of JacTravel Group, a leading European business-to-business travel company.
