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.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.
