Baker & McKenzie Advises J.P. Morgan And Macquarie On Steadfast Group Limited’s $300 Million Equity Raising
Baker & McKenzie has advised J.P. Morgan and Macquarie as joint lead managers of Steadfast Group Limited’s [ASX: SDF] $300 million placement and accelerated non-renounceable entitlement offer to fund the acquisition of two underwriting and two broking businesses from QBE Insurance Group.
Partner Craig Andrade led the Baker & McKenzie team, which included senior associate Stratos Karousos.
Commenting on the Offer, Craig Andrade said: “We were delighted to be instructed by J.P. Morgan and Macquarie. We’re seeing plenty of activity in the M&A pipeline and this transaction is a good start to 2015 and bodes well for the equities market being used to finance M&A deal flow in competitive auctions. The raising to support Steadfast will enable it to become one of the largest underwriting agencies in Australasia.”
Source: Baker & McKenzie
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