Australian travel business buys European B2B company with aid from top firms

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Four global firms have advised as an ASX-listed digital travel business has snapped up a European B2B travel wholesaler.

DLA Piper and Allen & Overy fielded teams for Webjet Limited in its $330m acquisition of JacTravel. UK private equity fund Vitruvian, owner of JacTravel, was advised by Mayer Brown.

The deal includes $164m associated equity raising, on which Ashurst advised underwriters UBS AG and Credit Suisse.

DLA Piper’s team was led by Australian corporate partner Joel Cox, who was supported by senior associate James McCarthy, Lawyer Jack McDonell, and foreign legal associate Bradley Heath.

The firm’s UK acquisition team was led by corporate partner Anu Balasubramanian, senior associate Simon Wright and associate Liam McLoughlin. They were assisted by UK intellectual property partner Gareth Stokes and senior associate Nick Hilton.

Ashurst’s team on the equity capital markets transaction was led by corporate partner Sarah Dulhunty.

Allen & Overy acted as US legal advisers to Webjet. Deloitte was Webjet’s accounting adviser.

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