KWM acts on $212m placement

Part of the proceeds will be used to acquire 49 child care centres across Australia

KWM acts on $212m placement
King & Wood Mallesons (KWM) has advised G8 Education Limited (G8) on its private placement to a Hong Kong-based company.

G8 has agreed with CFCG Investment Partners International (Australia) (CIPI), a wholly owned subsidiary of the China First Capital Group Limited (CFCG), on a $212.8m share placement. CFCG is a Hong Kong-based company listed on the Hong Kong Stock Exchange.

The KWM team was led by Brisbane partner Stefan Luke, who was supported by senior associate Isaac Evans and solicitor Akshay Naran.

In an announcement to the ASX, G8 said it will use the proceeds from the placement to pay down part of its debts, as well as fund the acquisition of 49 child care facilities across Australia for about $200m.

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