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DWF advises on £29.8m secondary fundraise for Mercantile Ports & Logistics Limited

19 November 2018

DWF has advised Mercantile Ports & Logistics Limited on a conditional fundraising of up to £29.8m through a placing, subscription and open offer of new shares.

Mercantile Ports & Logistics Limited is currently developing a modern port and logistics facility in Mumbai, India spanning over 200 acres of land with a sea frontage of approximately 1,000 metres.

The fundraising is intended to support the construction of the facility through to operational completion. The transaction is conditional upon shareholder approval at the Annual General Meeting which is to be held on or around 6 December.

Advising on the deal are senior members of DWF's corporate team from across the UK, including partner and Head of Corporate in London, Matthew Doughty, Corporate partner in Newcastle, Jeremy Swift, senior associate Jemil Visram and solicitors Sophie Morris and Matthew Grice.

Jeremy Swift said: "As a long-standing client, we are pleased to once again advise Mercantile Ports & Logistics Limited. This secondary fundraising will allow the business to continue its progress in the construction of a significant and much-needed port and logistics facility in Navi Mumbai."

Jay Mehta, chief operating officer of Mercantile Ports & Logistics Limited, said: "Having previously worked with DWF, Matthew, Jeremy and the rest of the team are trusted advisors to our business, offering a high level of reputable commercial and technical expertise."

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