AUD120 million Institutional Placement and Selldown of Securities in Aconex
We successfully acted for Macquarie Captial (Australia) Limited and UBS AG, Australia Branch, as joint lead managers and underwriters of an AUSD120 million institutional placement of securities in Aconex Limited (Aconex) to fund Aconex's proposed acquisition of Conject Holding GmbH, which was announced to the market yesterday. In conjunction with the placement, the joint lead managers also conducted a selldown of approximately USD15 million of existing shares in Aconex, on behalf of Aconex co-founders Leigh Jasper and Rob Phillpot.
Lead partner, Lauren Magraith commented: "We are delighted to have assisted our longstanding clients Macquarie and UBS on this transaction for Aconex, having also advised those banks on the initial public offering of Aconex in 2014. Aconex has performed exceptionally well since its listing and we hope this proposed transaction allows it to build on that success."
Ms Magraith was assisted on the Aconex transaction by corporate partner Craig Andrade and senior associate Hoda Nahlous.
This transaction follows the AUD494 million underwritten entitlement offer announced by Qube Holdings Limited (Qube) earlier this week, in which Baker & McKenzie acted for the joint lead managers and underwriters to that offer. The proceeds of Qube's entitlement offer will be used to fund its participation in the circa AUD9.05 billion acquisition of Asciano Limited (Asciano) by Qube and a wider consortium including Global Infrastructure Management LLC, the Canada Pension Plan Investment Board, CIC Capital Corporation (together the Qube Consortium) and Brookfield Infrastructure Partners LP, GIC Private Limited, British Columbia Investment Management Corporation and Qatar Investment Authority (together the Brookfield Consortium).
Lead partner on this transaction, Lauren Magraith commented: "The ongoing competition for control of Asciano has been one of the most high profile takeover transactions in the market in recent times, culminating in the joining of the Qube and Brookfield consortiums to effect an agreed A$9.05 billion all cash takeover of Asciano by way of a scheme of arrangement. We were delighted to assist the joint lead managers and underwriters to Qube's entitlement offer, which will be used to fund Qube's acquisition of the Patrick Container Terminals business from Asciano in a joint venture with the Brookfield Consortium members. This was a complex deal involving a large number of parties and jurisdictions and we are very pleased to have assisted our clients in the negotiation and finalisation of this significant transaction."
Ms Magraith was assisted on the Qube transaction by associate Ivo Basoski.