Grace Quigley
Manager External Comms •
Sydney
Media release: Clayton Utz advises Eagers Automotive on $502 million equity raising to partly fund ~A$1 billion acquisition of 65% equity interest in CanadaOne Auto
1 minute
Clayton Utz is advising Eagers Automotive on the Australian aspects of its proposed ~A$1 billion acquisition of a 65% stake in CanadaOne, its $502 million capital raising and the partnership with and strategic investment by Mitsubishi Corporation in Eagers Automotive and in its easyauto123 business.
The CanadaOne acquisition represents a significant milestone for Eagers Automotive, marking its strategic entry into the North American market and reinforcing its position as a global leader in the automotive retail sector. Canadian law firm Blakes has advised on the Canadian aspects of the acquisition.
The capital raising comprises a $452 million accelerated non-renounceable entitlement offer, with Barrenjoey and Morgans acting as joint lead managers, and a $50 million strategic placement to Mitsubishi Corporation successfully completed on 27 October 2025.
Corporate partner Stephanie Daveson and senior associate, Lisa Houston are leading the firm's multidisciplinary team, with support from special counsel Lisa Tolhurst and Andrew Mackenzie, senior associate Laura van Stekelenburg, and lawyers Carlos Cheng and Aidan Bryant, as well as Competition partner Adrian Kuti and special counsel Doug Thompson.
Commenting on the deal, Stephanie said:
"This is a transformative transaction for Eagers Automotive and we are privileged to support them and work alongside the Eagers Automotive team on these significant milestones."
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Disclaimer
Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.