Slaughter and May is advising SEGRO on its rights issue

Slaughter and May is advising SEGRO plc (SEGRO) on its rights issue to raise approximately £573 million.

The proceeds of the rights issue, which was announced on Friday, 10 March, will be used in part to enable SEGRO to acquire full ownership of the Airport Property Partnership by purchasing the 50 per cent. stake it did not already own.

Bank of America Merrill Lynch and UBS Limited acted as Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners and HSBC Bank plc, Barclays Bank PLC and BNP PARIBAS acted as Co-bookrunners.

Slaughter and May supported SEGRO’s in-house team, Elizabeth Blease and Stephanie Murton. Paul, Weiss, Rifkind, Wharton & Garrison LLP is advising SEGRO on the US law aspects of the rights issue, and Osler, Hoskin and Harcourt LLP is advising SEGRO on the Canadian law aspects of the rights issue.