Allens acts for ALE Property Group on A$105 million equity raising
6 August 2009
Allens Arthur Robinson (Allens) has acted for ALE Property Group (ALE Property), Australia's largest listed freehold owner of pubs, on an equity raising valued at A$105 million via an accelerated entitlement offer and an institutional placement.
The raising – which is fully underwritten by Macquarie Capital Advisers – consists of a A$76 million one-for-two renounceable entitlement, at an offer price of A$1.50, and an institutional placement at an issue price of A$2.25, raising a further A$29 million.
The transaction is one component of ALE Property's capital management initiatives aimed at strengthening the organisation's balance sheet.
Partner Stuart McCulloch, and a team including Senior Associate Eve Regnard, Lawyers Andrew Tchadovitch and Kirsty Moore and Law Graduate George Blades, advised long-time client ALE Property on the transaction.
'This transaction forms part of ALE Property's larger plan for the business and will go a long way to strengthening their financial position,' said Mr McCulloch.
'As always, our team was pleased to be able advise ALE Property on a raising that is important to the organisation in order to meet their strategic goals.'
Ends
| Allens legal team | Stuart McCulloch (Partner – Sydney), Eve Regnard (Senior Associate - Sydney), Andrew Tchadovitch (Lawyer – Sydney), Kirsty Moore (Lawyer – Sydney), George Blades (Law Graduate – Sydney) |
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@aar.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.
