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

Goodman Group announces $1.8b raising

Deal summary: Allens Arthur Robinson has acted for Goodman Group, an international integrated property group, on a capital raising valued at $1

August 10, 2009 By Lawyers Weekly
expand image

Deal summary:

Allens Arthur Robinson has acted for Goodman Group, an international integrated property group, on a capital raising valued at $1.8 billion.

The deal was part of a wider transaction that included the extension of $4.1 billion of existing finance facilities across Goodman and its managed funds.

Goodman also announced a new strategic relationship with Canada Pension Plan Investment Board (CPPIB) focusing on the development of logistics assets in mainland China.

The transaction, comprising a $1.3 billion institutional placement and entitlement offer, also included a $500 million convertible preferential security investment by China Investment Corporation (CIC), a Chinese investment institution. Freehills advised CIC, Clayton Utz advised the underwriters Macquarie Capital Advisers and RBS Equity Capital Markets (click here for coverage of the CIC/Goodman cornerstone investment)

Key players:

Allens' Partner Stuart McCulloch (pictured), alongside a Sydney-based team including Partner Tom Story, advised Goodman on the transaction, while Hong Kong-based Partner Tim Manefield handled the CPPIB joint venture.

Commentary:

"This was a highly complex deal, involving the negotiation and structuring of a hybrid with CIC at the same time as we were undertaking a large accelerated entitlement offer.

"We really appreciate the opportunity of working with the talented group at Goodman and helping them on complex transactions like this," McCulloch said

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.
lawyersweekly jobs image
lawyersweekly jobs
Discover the latest legal jobs
Find Australian legal jobs, employment & career opportunities
Momentum Media Logo
Most Innovative Company