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AMA Group secures Capital S.M.A.R.T from Suncorp
G+T has assisted AMA Group in acquiring Suncorp’s crash repair business.
Naomi Neilson
Source: gtlaw.com.au/people/john-schembri
Firm: Gilbert + Tobin (AMA Group Limited)
Value: $420 million.
Area: M&A.
Key players: The team was led by head of G+T’s banking and infrastructure team John Schembri, with support from special counsel Spiro Papadolias and lawyers Corrie Eames and Felix Buddee.
Deal significance: The acquisition was accompanied by a $216 million capital raising and includes a long-term strategic service agreement of 25 years under which Capital S.M.A.R.T remains Suncorp’s recommended repairer.
G+T also assisted AMA on its $20 million concurrent acquisition of 100 per cent of Suncorp’s ACM Parts Pty Ltd automotive parts supplier.
Mr Schembri said: “We were delighted to have assisted AMA [in] this milestone transaction. This new facility will provide AMA with a tailored and flexible financing package to help secure its strategic objectives going forward.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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