Slaughter and May is advising Young & Co.’s Brewery, P.L.C. (Young’s) on its cash box placing to institutional investors and its associated offer to retail investors via the PrimaryBid platform (the Placing). The Placing represents approximately 19.2% of Young’s existing A share and non-voting share capital (excluding treasury shares) and will raise gross proceeds of £88.4 million. The Placing, the results of which were announced on 25 June 2020, was conducted in part through an accelerated bookbuilding process for institutional investors, with J.P. Morgan Securities plc and Panmure Gordon (UK) Limited acting as joint bookrunners. Alongside this accelerated bookbuilding process, Young’s made an offer to retail investors in the United Kingdom to participate in the placing via the PrimaryBid platform.
Slaughter and May worked as a combined team with Cravath, Swaine & Moore LLP (who advised on matters of US law) and Mourant Ozannes (who advised on matters of Jersey law).