Baker & McKenzie successfully acted for Macquarie Capital (Australia) Limited as sole lead manager and underwriter of the A$80m fully underwritten institutional placement by Metcash Limited.
Metcash Limited is Australia's leading wholesale distribution and marketing company specialising in grocery, fresh produce, liquor, hardware and other fast moving consumer goods. The proceeds of the placement will be used to partially fund Metcash's A$165 million acquisition of Home Timber & Hardware from Woolworths Limited.
Lead partner on the deal, Lauren Magraith stated:
Our team was delighted to act for our longstanding client Macquarie Capital on this transaction and to work with Macquarie in assisting Metcash to fund its acquisition of Home Timber & Hardware after a lenghty and competitive sale process.
Lauren was assisted by senior associate Hoda Nahlous.
This transaction follows Baker & McKenzie's recent roles in advising APN News & Media on their $180 million entitlement offer and demerger and NZX listing of APN's New Zealand business, the joint lead managers on the A$260 million institutional placement and entitlement offer by National Storage REIT, the joint lead managers on the $107m institutional placement by Mantra Group Limited, the joint lead managers on the $135m institutional placement and selldown by Aconex Limited, the joint lead managers on the A$494m entitlement offer by Qube Holdings Limited, to fund Qube's participation in the c. A$9bn takeover of Asciano Limited, and the joint lead managers on the $405m entitlement offer by Spark Infrastructure, to fund Spark Infrastructure's participation in the A$10.258bn acquisition of TransGrid. Baker & McKenzie has recently been ranked as the #1 law firm for Equity Capital Markets by Thomson Reuters (1H2016) and this deal continues the strong flow of capital markets work being executed by the firm.
Baker & McKenzie was named the world's strongest law firm brand for the sixth consecutive year in the Acritas’ Global Elite Law Firm Brand Index.