Ashurst advises Tritax Eurobox on 250 million equity fundraising
27 September 2021
The Company has issued 191,228,355 new ordinary shares by way of a placing (pursuant to the Company's placing programme) at a price of 111.5 pence per new ordinary share, raising gross proceeds of approximately €250 million.
The Company invests in and manages a portfolio of large continental European logistics real estate assets. The Company's investment manager, Tritax Management LLP, expects to use the net proceeds of the placing, together with existing resources and debt, to secure the acquisition of a near-term investment pipeline of c.€520 million of prime big box logistics assets in key locations in Continental Europe comprising: (a) two German assets for over €170 million which are in exclusivity and in the final stages of due diligence and (b) six further assets for an aggregate investment of c.€350 million including zoned development land and forward funding developments.
The Ashurst team was led by partner Simon Bullock, with support from partners Jeffrey Johnson, Bradley Rice and Alexander Cox, senior consultant Jeffrey Sultoon, senior associate Louise Chan and associate Louise Johnson.
Jefferies International Limited and Van Lanschot Kempen N.V. are acting as joint global co-ordinators, joint bookrunners and joint financial advisors. Akur Limited is acting as joint financial advisor.
