Nabarro advises on two equity fundraisings in a week
12 December 2008
Nabarro LLP has advised Investec Bank (UK) Limited in its capacity as financial adviser and joint broker to Stobart Group Limited, which has acquired London Southend Airport from Regional Airports Limited for a maximum consideration of £21 million. The acquisition was partially funded by a simultaneous vendor and cash placing undertaken by Stobart Group to raise approximately £11.5 million.
Nabarro corporate partner, Russell Holden, led the team with assistance from corporate associate, Richard Bootle. Stobart Group Limited was advised by Halliwells LLP and Regional Airports Limited was advised by Lovells LLP.
A corporate team, led by Alasdair Steele, recently acted for Numis on a placing by Hydrodec Plc. The proceeds for the placing will be used to provide additional working capital for the company – which provides advanced oil and chemical process technology, products and services to industry, and to continue pursuing opportunities in the Japanese and hydraulic markets.
Commenting on the deals, Russell Holden said:
“It is pleasing to see that, even in these difficult times, our strong ECM client base are still able to undertake fundraisings for their clients. As an ECM practice we are focused on delivering high quality business friendly legal advice and we look forward to more deals in 2009.”
If you would like any further information or have any queries please contact:
Charlotte Tandy
+44 (0)20 7566 9706
charlottet@lansons.com
