Cases & Deals

Bear Stearns Private Equity acquires Macquarie Private Capital Group in $115 million take private

Client(s) Bear Stearns Private Equity Ltd

Jones Day counseled Bear Stearns Private Equity Ltd (BSPEL) on its AU$115 million all-cash offer (subject to adjustment) to acquire Macquarie Private Capital Group (MPCG). BSPEL is a London-quoted, Gurnsey-registered investment company that invests with the world's leading private equity fund managers through secondary purchases and direct investments in Europe, North America and Asia. MPCG is an Australian Securities Exchange-listed private equity group that invests in a broad range of unlisted companies and assets. BSPEL and MPG announced that they had entered into a Scheme Implementation Agreement in respect of the transaction on February 18, 2008. The transaction was effected by way of a Scheme of Arrangement between MPG and its securityholders. The Scheme was subject to, among other things, approval by the requisite majorities of MPG security holders and court approval. MPG security holders were asked to vote on the Scheme at a meeting held in late April 2008.