Media Release: Clayton Utz advises The Market Herald Limited on $86m acquisition of Gumtree, Carsguide and Autotrader and $26m Entitlement Offer
Perth, 26 August 2022: Clayton Utz is advising ASX-listed digital business and investor relations platform services provider, The Market Herald Limited (ASX: TMH) in respect of its acquisition of 100% of the shares and related assets of Gumtree Au Pty Ltd, Carsguide Autotrader Media Solutions Pty Ltd and Gumtree IP AUS Holding Ltd from Adevinta. The transaction was announced to the market today.
Clayton Utz partner Mark Paganin is leading the firm's team together with partner David Gerber (Insurance), partner Rohan Mishra and senior associate Jackie Leggett (Finance) and lawyers Tyson Ginn and William Colreavy (Corporate/M&A).
The Gumtree, Carsguide and Autotrader platform is one of the largest digital communities in Australia.
Clayton Utz is also advising The Market Herald in relation to its fully underwritten 2 for 5 pro-rata renounceable entitlement offer to raise total proceeds of approximately $26 million (before costs). The Entitlement Offer is being undertaken to partly fund the acquisition.
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