MinterEllison lawyers as top bank sells subsidiary's international operations

The deal involved a multi-jurisdictional team working across multiple time zones on legal, financial, and tax matters

MinterEllison lawyers as top bank sells subsidiary's international operations

MinterEllison acted for Northill Capital on its acquisition of the international operations of Westpac Banking Corporation subsidiary Hastings Management.

The top firm advised on all Australian law aspects of the transaction, providing guidance on acquisition documents, financial services regulatory advice and the complex separation and multiple reciprocal transitional arrangements.

Hastings has funds under management of about $14.3bn in a portfolio of infrastructure debt and equity assets in the US, UK, Europe and Australia. Privately held Northhill has about $30bn of assets under management, the majority of which the company owns.

Financial terms of the deal remain confidential, but earlier reports from the Australian Financial Review and the Financial Times peg the deal to be worth between $160m and $200m.

“This is Northill's first deal in Australia, and the MinterEllison team worked very closely with Northill to provide strategic solutions throughout the transaction, in particular, regarding transaction structuring and mid-transaction changes in structure,” said Nathan Cahill, MinterEllison’s lead partner on the matter.

The deal involved a multi-jurisdictional team that working across multiple time zones with legal, financial, and tax advisers, he said. The firm used its expertise in regulatory, corporate, employment, and tax, as well as addressed complex licencing and Foreign Investment Review Board matters.

Cahill was supported by partners Ricky Casali, Gordon Williams, David Moore, James Momsen, and Stewart Robertson. They were assisted by senior associates Michael Scarf, Michael Mellon, and Mellissa Lai, as well as associate Sophia Bai.

 

Recent articles & video

Thomson Geer partner: Bruce Lehrmann suit teaches a lesson about bringing unmeritorious claims

Australian Ethical picks up Altius Asset Management with KWM's guidance

Griffith Hack welcomes patent attorney, patent associate to Perth team

Independent review calls for more investment in Aboriginal and Torres Strait Islander Legal Services

European Union officially approves landmark AI legislation

UK judge predicts artificial intelligence will transform role of expert witnesses

Most Read Articles

Thomson Geer partner on the biggest impact of the Bruce Lehrmann defamation ruling

Pearce IP's AU litigation head shares the most important lesson she learned from her old job

G+T guides Mitsubishi UFJ Trust and Banking on $2.1bn pickup of Link Group

HWL Ebsworth reveals new leadership and management structure