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Freehills, Clutz act on CIC/Goodman cornerstone investment
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Freehills, Clutz act on CIC/Goodman cornerstone investment

Deal summary: Freehills has advised China Investment Corporation on its $500 million cornerstone investment in t

Deal summary:

Freehills has advised China Investment Corporation on its $500 million cornerstone investment in the Goodman Group. The investment is part of of the Goodman Group's recently announced equity raising of $1.8 billion.

Clayton Utz advised Macquarie Capital Advisers and RBS Equity Capital Markets as underwriters on the ASX-listed Goodman Group's fully underwritten capital raising by way of Placement, JUMBO Entitlement Offer and Preference Security Placement.

CIC's participation in the equity raising will be via an $500 million investment by CIC in exchangeable preference securities.

Key players:

The Freehills team was led by partner Fiona Smedley (pictured), supported by solicitors Emma Hoeben and Rohan Pieris.

Corporate partner Brendan Groves (pictured) led the Clayton Utz team.

Morgan Stanley advised CIC on the financial aspects of the investment.

Commentary:

"This is the second investment made by CIC in the Goodman Group and in Australia and Freehills is proud to have advised the company on both occasions. CIC's cornerstone investment in the Goodman Group is an extremely valuable component of the Goodman Group's wider capital raising," Freehills partner Fiona Smedley said.

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