UK-Oz law firm drives Computershare fundraising to acquire new biz

UK-Oz law firm drives Computershare fundraising to acquire new biz

Herbert Smith Freehills advises Computershare to raise Australian $835 million to acquire assets of Wells Fargo Corporate Trustee Services

Global law firm Herbert Smith Freehills, which has its headquarters in London and Sydney, has advised Computershare on its underwritten pro-rata accelerated renounceable entitlement offer with retail rights trading, to raise A$835 million to fund the acquisition of the assets of Wells Fargo Corporate Trustee Services (CTS).

The fund would be partially used by Computershare to finance the acquisition of CTS, which will enable the Australia-based firm to further consolidate its business in the US.

CTC is a leading provider of trust and agency services to both corporate and government clients in the US whereas Computershare is a global market leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications.

CTS has been in existence for over 80 years is currently appointed to administer corporate trust service to 26,000 mandates across a range of securities and bond issuances.

"We are proud to be advising Computershare on the capital raising to fund this landmark transaction. The acquisition of CTS is a key milestone in the continued international expansion of Computershare and we are delighted to be associated with such an important transaction," Michael Ziegelaar, co-head of Australian Equity Capital Markets at Herbert Smith Freehills, said.

Herbert Smith Freehills partner Ziegelaar leads the firm's team of senior associates Sam Kings, Andrew Earle and Jennifer Wong, and solicitors James Paolucci and Amy Pereira.

Goldman Sachs and UBS AG, Australia branch, are acting as joint lead managers to the entitlement offer.