Login
Flight Centre undertakes cap raise to fund UK travel brand
Global law firm King & Wood Mallesons has advised Flight Centre on its $220 million raise to finance the acquisition of Scott Dunn, a leading UK-based luxury travel brand.
Jerome Doraisamy
Firm: King & Wood Mallesons (Flight Centre Travel Group Limited)
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: Flight Centre has undertaken an institutional placement and share purchase plan to raise approximately $220 million to finance the acquisition of Scott Dunn, a leading UK-based luxury travel brand. The raising is expected to be completed in early March, KWM said in a statement.
Area: Merger and acquisition
Value: Approximately $220 million
Key players: The KWM team was led by M&A partners Paul Schroder and Amanda Isouard, who were supported by special counsel Karim Issa and solicitors Jaspreet Nagra, Piero Craney, Stuart Neil, and Gordon Yen.
Deal significance: Speaking about the raise, Mr Schroder said: “The success of this capital raising highlights Flight Centre’s strong recovery from the COVID-19 pandemic.
“Our team is very proud of the support we have provided Flight Centre during the pandemic and its recovery, and now as it seeks growth. Since 2020, KWM has acted on four capital raisings for Flight Centre, with an aggregate value of approximately $1.7 billion.”
Ms Isouard added: “We are very pleased to have advised Flight Centre on the equity financing of its proposed acquisition. The success of Flight Centre’s institutional placement shows that ASX is open for acquisition financing.
“Our role once again demonstrates the ability of the KWM ECM team to partner with clients on successful acquisition financing. The depth and breadth of our team has helped us achieve excellent outcomes for many clients in the ECM space.”
