find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Corporate Lawyer
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· 12 months fixed term opportunity
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Car dealership IPO raises $160m

Car dealership IPO raises $160m

Adam D'Andreti, Gilbert + Tobin

Two firms were involved in Autosports Group’s initial public offering, which raised $160 million for a projected $482.4 million market capitalisation.

Firms: Herbert Smith Freehills (Autosports Group); Gilbert + Tobin (Macquarie Capital (Australia) Limited and UBS AG, Australia Branch)

Deal: Autosports Group completed an IPO.

Value: $160 million

Area: Capital raising

Key players: The Gilbert + Tobin team was led by partner Adam D’Andreti (pictured) with assistance from senior lawyer Alastair Corrigall and associate Clare Harris.

Deal significance: Autosports is one of Australia’s largest private car dealership groups, with 27 retail businesses, including new car dealerships, used car dealerships and collision repair centres.

The IPO has priced at $2.40 a share, equating to 17.2 times the forecast net profit, with Autosports Group raising $160 million for a projected $482.4 million market capitalisation.

The transaction included a challenging restructure involving a roll-up of 30 existing shareholders of smaller entities.

Macquarie Capital (Australia) Limited and UBS AG, Australia Branch were joint lead managers, bookrunners and underwriters on the IPO.

“This IPO highlights the team’s continued success in providing our clients with efficient and responsive advice,” lead Gilbert + Tobin partner Mr D’Andreti said.

“Facilitated by our extensive experience, we are able to navigate through any complications that arise, offering a commercially astute approach backed by deep understanding of the marketplace.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Car dealership IPO raises $160m
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by The way we do business, where we work, how we engage with workers, even how we take a...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...