Appleby advises Asia Mezzanine on provision of $30m facility to CAAM

Appleby has acted as British Virgin Islands and Bermuda counsel for Asia Mezzanine Capital Corporation in relation to the provision of a $30m (£19.5m) facility to CAAM, which — together with an equity investment — was applied to finance an acquisition of approximately 70 per cent of the shares of Moraitis Group, at a value of around AUD211.82m (£145m).

CAAM and its shareholders granted various forms of security in favour of Asia Mezzanine, as well as options.

The Appleby team was led by Jeffrey Kirk, the banking and asset finance team leader in Appleby’s Hong Kong office, and assisted by associate Vincent Chan.

Asia Mezzanine is an independent direct investment fund management group based in Hong Kong. Together with its constituents, it invests in the strategic development of promising medium-sized companies that have substantial operations in Asia and are seeking capital.

CAAM is an investment holding company incorporated in the British Virgin Islands.

Moraitis Group is a fruit and vegetable supplier aggregator and supplier in Australia.

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