KWM advises Flight Centre on capital raise for Scott Dunn acquisition

The firm has acted on four capital raisings for Flight Centre

KWM advises Flight Centre on capital raise for Scott Dunn acquisition

King & Wood Mallesons (KWM) has advised Flight Centre Travel Group Limited on its institutional placement and share purchase plan to raise approximately for the acquisition of UK-based luxury travel brand Scott Dunn.

KWM’s team was led by M&A partners Paul Schroder and Amanda Isouard, with the support of special counsel Karim Issa and solicitors Jaspreet Nagra, Piero Craney, Stuart Neil, and Gordon Yen.

“The success of this capital raising highlights Flight Centre’s strong recovery from the COVID-19 pandemic,” said Schroder. “Our team is very proud of the support we have provided Flight Centre during the pandemic and its recovery, and now as it seeks growth.”

This marks the fourth time that KWM advised Flight Centre on its capital raisings, with an aggregate value of approximately $1.7 billion.

In 2020, the firm acted on Flight Centre’s $700 million placement and entitlement offer and $400 million convertible notes offer. IT advised the company on another $400 million convertible notes offer the following year.

“We are very pleased to have advised Flight Centre on the equity financing of its proposed acquisition,” added Isouard. “The success of Flight Centre’s institutional placement shows that ASX is open for acquisition financing.  Our role once again demonstrates the ability of the KWM ECM team to partner with clients on successful acquisition financing.  The depth and breadth of our team has helped us achieve excellent outcomes for many clients in the ECM space.”

Capital raising for the Scott Dunn acquisition is expected to conclude in early March.

The KWM ECM team has previously helped clients raise approximately $14.5 billion in 2022, which corresponds to a significant share of the capital raised on ASX that year.  

KWM has also advised clients on buy-backs totalling up to approximately $6 billion through a variety of structures.

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