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Resort giant eyes iconic Hawaiian hotel

Resort giant eyes iconic Hawaiian hotel

Mantra Group plans to use the proceeds of a $107 million institutional placement to acquire the iconic Ala Moana Hotel in Honolulu.

Firms: Baker & McKenzie (Macquarie Capital Australia; UBS AG); Hogan Lovells (Mantra Group Ltd)

Deal: Joint lead managers Macquarie Capital and the Australian branch of UBS AG have fully underwritten a $107 million institutional placement by Mantra Group.

Value: $107 million

Area: Banking and finance

Key players: Baker & McKenzie partner Lauren Magraith advised Macquarie Capital and UBS AG on the deal. She was assisted by senior associate Hoda Nahlous.

Deal significance: Mantra Group Limited is the largest Australia-based hotel and resort marketer and operator, managing more than 19,500 rooms for owners in properties across Australia, New Zealand and Indonesia.

The proceeds of the placement will be used by Mantra Group to fund the acquisition of ALM Management Services LLC, which operates the Ala Moana Hotel in Hawaii. Ala Moana Hotel is a landmark hotel in Honolulu and is located next to Ala Moana Center, the world's largest open-air shopping mall.

Commenting on the deal, Baker & McKenzie partner Lauren Magraith said: "We were delighted to act for our long-standing clients Macquarie and UBS on this transaction, having also advised on Mantra Group's initial public offering in 2014."

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