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ASX-listed company expands portfolio
King & Wood Mallesons has advised SCA Property Group on its acquisition of 10 shopping centres across the country.
Emma Musgrave
Firm: King & Wood Mallesons (SCA Property Group)
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Deal: SCA Property Group has acquired 10 shopping centres across Australia.
Value: The acquisition takes SCA Property Group’s total portfolio to more than $3.1 billion.
Area: M&A, property
Key players: The KWM team was led by partner Chris Mitchell, who advised on the acquisition portion of the transaction, and partner David Eliakim, who advised on the institutional placement. The pair were assisted by senior associates Shabarika Ajitkumar and Tristan Howes, as well as solicitors Qin Bi and Gemma McMahon.
Deal significance: SCA Property Group is listed on the Australian Securities Exchange (ASX). Its acquisition of the acquisition of 10 shopping centres across Australia included a $262.4 million fully underwritten institutional placement.
According to a statement from KWM, the acquisition takes the property group's portfolio to more than $3.1 billion, “making it the largest convenience-based retail specialist in Australia”.
“KWM is pleased to assist SCA Property Group with this significant addition to their convenience-based retail portfolio,” partner Chris Mitchell said.
“The acquisition was achieved in line with SCP’s core strategy and goal of continued disciplined growth.”
