Amongst other benefits, the proceeds of the placement and security purchase plan will provide Cromwell with certainty of funding to pursue over A$1 billion of acquisition opportunities in Australia and Europe. In recent years, ASX-listed Cromwell has continued to expand its reach in Australasia and Europe and now boasts a market cap of $A3 billion.

MinterEllison advised Cromwell on all aspects of the placement and security purchase plan including underwriting arrangements, due diligence and offer documents with underwriting by UBS AG, Australia Branch, and Goldman Sachs Australia Pty Ltd.

“The strong support from existing and new securityholders for the capital raising is a testament to the great work of the Cromwell team. We are pleased to be part of the story as they continue to grow from strength to strength,” said Ker Wei Tiam MinterEllison Partner.

MinterEllison has acted for Cromwell on a number of recent capital raisings including its A$228 million entitlement offer in December 2018 and its €230 million convertible bond offer in March 2018.

The MinterEllison team was led by Ker Wei Tiam (Partner), with support from Jeffrey Chen (Associate), April Wong (Lawyer) and Neetika Nagpal (Lawyer).