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Clayton Utz is advising Macquarie Capital Advisers as underwriter of SAI Global's_x000D_ A$130 million equity raising._x000D_
CLAYTON Utz is advising Macquarie Capital Advisers as underwriter of SAI Global's
A$130 million equity raising.
SAI, a risk management specialist, last week suspended trade in its shares on the ASX to announce it had agreed to pay $194m ($US170m) in a deal, which will be bankrolled by the equity raising on top of debt.
SAI Global is seeking to finance its proposed acquisition of 100 per cent of Integrity Interactive, a leading US-based compliance and ethics solutions provider.
Clayton Utz's head of equity capital markets Stuart Byrne is leading the team advising Macquarie Capital Advisers.
Commenting on the transaction Byrne said: "Clayton Utz is pleased to advise long-standing client Macquarie Capital Advisers on this transaction. I expect we will see more equity raisings to fund strategic acquisitions as economic conditions improve."
The raising will seek to raise A$80 million through an accelerated non-renounceable pro-rata entitlement offer and an additional A$50 million through an institutional placement.
SAI told investors that the acquisition, which is subject to regulatory approval, would create a compliance business with pro-forma revenue exceeding $80m for the 2010 financial year.
The acquisition is expected to be completed next month.
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