You have 0 free articles left this month.

Lawyers Weekly - legal news for Australian lawyers

Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
Big Law

Allens acts for ALE property on $105m raising

Deal summary:

August 06, 2009 By Lawyers Weekly
expand image

Deal summary:

Allens Arthur Robinson has acted for ALE Property Group (ALE Property), Australia's largest listed freehold owner of pubs, on an equity raising valued at $105 million via an accelerated entitlement offer and an institutional placement.

The raising - which is fully underwritten by Macquarie Capital Advisers - consists of a $76 million one-for-two renounceable entitlement, at an offer price of $1.50, and an institutional placement at an issue price of $2.25, raising a further $29 million.

Key Players:

Allens' Partner Stuart McCulloch (pictured) and team including senior associate Eve Regnard, lawyers Andrew Tchadovitch and Kirsty Moore and law graduate George Blades.

Blake Dawson acted for Macquarie Capital Advisers (the underwriters).

Commentary:

"This transaction forms part of ALE Property's larger plan for the business and will go a long way to strengthening their financial position," said McCulloch.

Tags
You need to be a member to post comments. Become a member today
Got a tip for us?
If you have any news tips or stories to share, feel free to send them our way.
Momentum Media Logo
Most Innovative Company