Benjamin Lee

Partner, EMEA Co-Head, M&A and Corporate Finance

“Benjamin Lee is a "strong leader" and "commercially aware."” (Legal 500)
Benjamin Lee Signature
Closed over 10 transactions in 12 months
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Biography

  • 19 years’ experience with corporate practice based on domestic and international M&A and equity capital markets work. 
  • Specialising in corporate finance particularly public company takeovers, mergers, acquisitions, disposals and primary and secondary issues. 
  • Advises a number of quoted companies and financial intermediaries on the UKLA Listing Rules and Disclosure and Transparency Rules, the Prospectus Rules, the AIM Rules, the Takeover Code and company law.
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Examples of Work

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Max Property

Advised AIM listed Max Property Group Plc on the disposal of its entire property business to Marina Topco (Jersey) Limited, a company controlled by Blackstone Real Estate Partners Europe IV and its affiliates (Blackstone), in a deal valuing the Group at £447.7m This transaction involved a seller whose investment period had come to an end and was essentially in realisation mode, and one of the most substantial property investors in the market. It allowed the seller to realise the portfolio efficiently in one corporate transaction.

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Secure Income REIT

Advised Secure Income REIT Plc (SIR) on its admission to AIM. SIR is a UK REIT specialising in generating long-term, inflation protected, secure income from real estate investments. SIR raised £15m before expenses at Admission through a placing of 8,620,689 new Ordinary Shares at 174 pence per share. SIR had a market capitalisation on Admission at the placing price of £293m, with a gross asset value of c.£1.5bn.

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Haversham Holdings

Advised Haversham Holdings PLC on its £1.2bn acquisition of the British Car Auction Group (BCA). The reverse takeover will be funded by a placing of new Ordinary Shares and a new debt facility with the Company’s listing being moved to the standard listing segment of the Official List. The transaction values BCA at £1.2bn on a debt-free, cash-free basis. The Company will be renamed BCA Marketplace plc.

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The Foschini Group

Advised The Foschini Group Ltd (TFG), on its acquisition of an 85% stake in Poppy Holdco Limited, which trades as Phase Eight. TFG has acquired Phase Eight from funds advised by TowerBrook Capital Partners L.P., who are exiting the business completely, and management, who will become c.15% shareholders alongside TFG in a new holding company. The acquisition of Phase Eight is at an enterprise value of £238m with an equity value of £159.2m after taking into account net debt and related adjustments. Through put/call arrangements, TFG will have the right to acquire all shares held by management following completion of the acquisition in three equal tranches.

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PT Bakrie & Brothers

Advised PT Bakrie & Brothers Tbk and its entity the Bakrie Group on the acquisition of a 29.2% interest in PT Bumi Resources Tbk from Asia Resource Minerals plc (ARMS), formerly Bumi plc, for US$501m in cash, and the disposal of the Bakrie Group's entire 23.8% indirect interest in ARMS to Ravenwood Acquisition Company Limited. Prior to that, advised on the US$1bn sale of part of the Bakrie Group interest in ARMS to PT Lumbung Energy & Metal.

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