Chapman Tripp advises Arvida on successful capital raising and acquisition

Chapman Tripp has advised Arvida Group Limited (Arvida) on its $62m acquisition of three Auckland aged care facilities and a $35m capital raising, which includes a $30m private placement that settled today.

The Chapman Tripp team was led by partner Roger Wallis, assisted by senior associates Adrien Hunter and Nick Letham, and solicitor Briar Malpas.

Roger Wallis said: “This is an important acquisition for Arvida as it marks its expansion into the Auckland market. “The aged care sector has been one of New Zealand’s most solid financial performers in recent years so the strong investor support in the placement comes as no surprise.”

In December 2014, Chapman Tripp also advised Arvida on its $80m initial public offering (IPO) and NZX Main Board listing in conjunction with its acquisition of 17 requirement villages for $329 million.

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Related topics: Corporate & commercial; Mergers & acquisitions; capital raising; Capital markets

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