May 14, 2021
Latham & Watkins is advising Rothschild
as sponsor and Numis and Peel Hunt as joint bookrunners to Kier Group plc
(Kier) on Kier’s underwritten firm placing, placing, open offer, and separate
directors’ subscription, raising gross proceeds of approximately £241 million.
The capital raise, together with the recent
sale of Kier Living Limited, will raise approximately £352.4 million of gross
proceeds for Kier. The proceeds will provide Kier, a leading infrastructure
services and construction group, with the financial and operational flexibility
to continue to deliver on its strategic objectives.
The Latham team was led by London corporate
partner Chris Horton, with associates Sean Meehan and Frederick Gardner. US
securities advice was provided by partner Ryan Benedict and capital markets
lawyer Irene Pistotnik.