Herbert Smith Freehills is pleased to be advising Perpetual Limited (Perpetual) on its proposed c.$2.3b acquisition of Pendal Group Limited (Pendal) by way of a scheme of arrangement.
Perpetual announced this week that it has entered into a scheme implementation deed for the acquisition of 100% of Pendal by way of a scheme of arrangement.
The acquisition, once implemented, will create a diversified global asset manager with significant scale. It combines Pendal’s strong international and Australian businesses with Perpetual’s highly regarded Australian and international asset management brands, world-class ESG capabilities within both firms, and Perpetual’s high-net-worth wealth management and corporate trustee businesses
Herbert Smith Freehills is pleased to be working with Perpetual on this transaction. The team is being led by HSF’s Chair and Senior Partner Rebecca Maslen-Stannage and HSF partner Malika Chandrasegaran, and includes executive counsel James Shirbin, senior associate Samuel Moran, and solicitors Carla Ayoub and Jonathan Wu. The Perpetual legal team is being led by Jessie Moodley, General Counsel.
Perpetual’s Jessie Moodley said, “The HSF team has been outstanding to deal with. They worked seamlessly with the Perpetual deal team and were always available at short notice, no matter what the time, offering pragmatic solutions to challenging issues in tight timeframes and able to distil complex issues in an easy-to-understand way.”
HSF’s Rebecca Maslen-Stannage said, “We have worked closely with the Perpetual team over a number of years and it is a privilege to be working alongside them again on this defining transaction. We have been very impressed by the hard work and dedication of the dynamic Perpetual team in getting to this milestone, and look forward to continuing to support them as they complete the acquisition.”
HSF partner Malika Chandrasegaran said, “We are delighted to be playing a part in this significant acquisition by Perpetual. It has been an absolute pleasure working with the brilliant Perpetual team and we congratulate them on getting to this milestone in the transaction.”