The alliance will see both companies working collaboratively to grow both the Marley Spoon and Dinnerly brands in Australia, and to build operational synergies. Marley Spoon's share price increased 70% following the announcement, which demonstrates the market's strong support for the transaction.
Working across Ashurst's offices in Australia and Germany, the matter involved the subscription for A$7 million of shares (in the form of CDIs) and a A$23 million convertible note.
Mark Stanbridge, Ashurst head of corporate transactions Asia, commented:
"We are delighted to have worked with Woolworths Group Limited on its strategic alliance and investment in Marley Spoon AG. This transaction has demonstrated Ashurst's ability to work seamlessly as a team across our global network and different practice groups to deliver top quality service to our clients."
The Ashurst team was led by partners Mark Stanbridge and Stuart Dullard, with support from partners Brenton Key, Barbara Phair, Bill Reid, Tony Ryan, Sanjay Wavde and Ross Zaurrini; counsel Nichola Shaw; senior associates Selina Ngo, Simon Vose and Steve Whittington; and associates Adelle Elhosni, Ben Lyttle, Rory McLeod, Graeme Stone and Cindy Yuan.
In Germany, partners Martin Bünning, Gerrit Clasen, Tobias Krug, Detmar Loff; counsels Martina Rothe and Nikolos Tsagareli; senior associates Alexandra Heitmann and Lukas Müller; and associates Quynh Anh Le, Philipp Lorberg and Rachel Wünsch assisted the team.
