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Freehills advises UBS AG on Challenger raising
Deal Summary: Freehills is advising UBS
Lawyers Weekly
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| Freehills is advising UBS AG, Australia Branch on their underwriting of Challenger Diversified Property Group's (Challenger) announced capital raising of approximately $130 million. The raising will take place by an accelerated 'low doc' 4 for 7 non-renounceable entitlement offer to existing institutional and retail securityholders at $0.40 per stapled security. Challenger Financial Services Group, Challenger's largest securityholder, has committed to take-up its full entitlement, and participate in sub-underwriting the offer.
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| Key players:
| The Freehills team is partner Tony Sparks (pictured), senior associate Daniel Scotti and solicitors Carl Hornigold and Jeremy Chew.
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| Commentary: | Freehills partner Tony Sparks said, "The deal highlights yet another example of a significant shareholder supporting a capital raising."
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