Minter Ellison advised Redcape Property Fund on acquisition and recapitalisation
May, 2012 - Sydney, New South Wales
A consortium of hedge funds, comprising Goldman Sachs Asia, Varde and New York-based York Capital, completed its acquisition of 100 per cent of the securities of Redcape Property Fund and recapitalised Redcape with new debt facilities in May 2012.
Minter Ellison advised Redcape and its responsible entity, Trust Company, in this transaction.
Redcape is a A$750million ASX-listed property group that invests in the Australian hotel freehold market and leases its hotels to tenants on a long-term basis. The trust and share schemes of arrangement were approved by its security holders, the New South Wales Supreme Court and ASIC, and Redcape has been relisted.
Our advisory team comprised special counsel from our Sydney office – Angella Bregovac (Corporate), David Low (Dispute Resolution) and Liz Von Muenster (Tax).
