Allens acts for Charter Hall in A$118 million raising
28 May 2009
Allens Arthur Robinson (Allens) has acted for Charter Hall Group (Charter Hall), an Australian property funds management and development company, on a A$118 million raising with strategic investment from Gandel Group, the property investment group.
Allens advised Charter Hall on its A$73 million listed equity raising, comprising a placement to the Gandel Group of A$24 million and a fully underwritten 2 for 7 accelerated non-renounceable entitlement offer to raise A$49 million.
Gandel Group's strategic investment also included the acquisition, from Charter Hall, of a A$30 million stake in the unlisted Core Plus Office Fund and a A$15 million commitment to a proposed new Special Situations Fund.
The Allens team, led by Partners Stuart McCulloch and Anna Lenahan and supported by Senior Associates Eve Regnard and Zoe Green and lawyers Tim Cardiff, Caspar Conde, Emma Leske and Eresha De Zoysa Siriwardena, advised Charter Hall on all aspects of the transaction.
According to Mr McCulloch: 'It was important for both our client Charter Hall and Gandel Group's long-term strategic goals that this part of the transaction was executed quickly and efficiently.'
'It is always a pleasure to work alongside great teams – in this case Charter Hall, as they worked with Gandel Group – at a time when they need our expertise and knowledge of their business, as well as capital raisings of this nature', added Ms Lenahan.
Ends
| Allens legal team | Stuart McCulloch (Partner – Sydney), Anna Lenahan (Partner – Sydney), Eve Regnard (Senior Associate – Sydney), Zoe Green (Senior Associate – Sydney), Tim Cardiff (Lawyer – Sydney), Caspar Conde (Lawyer – Sydney), Emma Leske (Lawyer – Sydney) and Eresha De Zoysa Siriwardena (Lawyer – Sydney) |
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@aar.com.au
Notes for editors.
Founded in 1822, Allens Arthur Robinson offers one of the most comprehensive legal networks in Australia and Asia with more than 1500 personnel based in 14 cities and eight countries across the region. Clients voted Allens Arthur Robinson the Best Professional Services Firm (revenue over $200 million) and Best Law Firm (revenue over $100 million) in the annual BRW Client Choice Awards 2005, 2006 and 2008. We have been an EOWA Employer of Choice for Women since 2004.
