KWM advises on the largest block trade since 2017

In addition to the $1.36bn block trade, the firm also advised a related foundation on its restructure

KWM advises on the largest block trade since 2017

King & Wood Mallesons (KWM) has successfully acted on two deals for the Paul Ramsay group.

It acted for Paul Ramsay holdings on the successful block trade of 22 million ordinary shares of Ramsay Health Care. It also advised the Paul Ramsay Foundation on its restructuring.

KWM said that the $1.36bn block trade is the largest of its kind since 2017.

The block trade was settled on 19 September. Institutional investors bought the shares at $61.80 each via an underwritten bookbuild. KWM said that Paul Ramsay Holdings divested nearly 11% of the healthcare company’s shares, maintaining a 21% interest in the country’s second-largest private hospital operator.

Partner David Friedlander headed the KWM team. He was supported by senior associates Anthony Boogert and Jo Ruitenburg, as well as solicitor Henry Sit.

“We are pleased to have advised the Paul Ramsay Holdings on this significant trade, the proceeds from which will allow the Paul Ramsay Foundation to diversify and focus on alternative investment options,” Friedlander said.

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