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High-flying equity raising announced
Two firms have advised on a deal which saw a high-profile travel booking website undertake an entitlement offer to raise approximately $164 million.
Emma Musgrave
Firms: Ashurst (UBS AG, Australia Branch and Credit Suisse – Australia – Limited); DLA Piper (Webjet Limited);
Value: $164 million
Area: Finance
Key players: The Ashurst legal team was led by corporate partner Sarah Dulhunty.
Deal significance: According to a statement from Ashurst, under the entitlement offer, eligible shareholders are invited to subscribe for 1 new ordinary share in Webjet for every 6 existing Webjet shares held at the record date.
The entitlement offer is being fully underwritten by UBS and CS, the firm said.
In addition, Ashurst noted that the proceeds of the entitlement offer will go towards partly funding Webjet’s acquisition of JacTravel Group, a leading European business-to-business travel company.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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