Allens acts for Goodman Group on A$1.8 billion capital raising
7 August 2009
Allens Arthur Robinson (Allens) has acted for Goodman Group (Goodman), an international integrated property group, on a capital raising valued at A$1.8 billion.
This was part of a wider transaction that included the extension of A$4.1 billion of existing finance facilities across Goodman and its managed funds, which delivers a comprehensive plan of capital management initiatives.
Goodman also announced a new strategic relationship with Canada Pension Plan Investment Board (CPPIB) focusing on the development of logistics assets in mainland China.
The transaction, comprising a A$1.3 billion institutional placement and entitlement offer, also includes a A$500 million convertible preferential security investment by China Investment Corporation (CIC), a Chinese investment institution.
Partner Stuart McCulloch, alongside a Sydney-based team including Partner Tom Story, advised long-time client Goodman on this transaction, while Hong Kong-based Partner Tim Manefield handled the CPPIB joint venture.
Mr McCulloch said: 'This was a highly complex deal, involving the negotiation
and structuring of a hybrid with CIC at the same time as we were undertaking a
large accelerated entitlement offer.
'We really appreciate the opportunity of working with the talented group at
Goodman and helping them on complex transactions like this.'
Ends
| Allens legal team | Stuart McCulloch (Partner – Sydney), Tom Story (Partner – Sydney), Tim Manefield (Partner –Hong Kong), Derek Heath (Consultant – Sydney), Penny Nikoloudis (Senior Associate – Sydney), James Clifford (Lawyer – Sydney), Chris Smith (Lawyer – Sydney), Sandy Wu (Lawyer – Sydney), Kevin Lu (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.
