Ocado Group plc’s £143 million placing of ordinary shares

Slaughter and May advised Ocado Group plc on a placing of approximately 4.9% of its existing ordinary share capital which raised gross proceeds of £143,158,925.

The placing, which announced on 6 February 2018, was conducted as an accelerated bookbuild process. Goldman Sachs International and Numis Securities Limited acted as joint bookrunners and joint corporate brokers in connection with the transaction.

The proceeds will be used to facilitate the signing of new Ocado Solutions partnerships globally, to commit funding to associated investment capital expenditure and to increase Ocado’s technology engineering and software capabilities. The proceeds will also enable Ocado to bring forward investment in its customer fulfilment centres located at Erith and Andover in order to accelerate their fulfilment capacity.

Slaughter and May advised Ocado Group on the deal with a Corporate team led by John Papanichola (partner, in picture), assisted by James Odom (associate), Thomas Potter (associate), Sabrina Hummel (trainee), Stella Kim (trainee); on Tax law advised Gareth Miles (partner) and Kyle O’Sullivan (associate).

Involved fees earner: John Papanichola – Slaughter and May; James Odom – Slaughter and May; Sabrina Hummel – Slaughter and May; Thomas Potter – Slaughter and May; Stella Kim – Slaughter and May; Gareth Miles – Slaughter and May; Kyle O’Sullivan – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Ocado;