Multibillion-dollar merger finalises
Two Australian companies have successfully completed a merger, representing upwards of $3 billion.
Firms: DLA Piper (Pengana Holdings); Undisclosed (Hunter Hall International)
Deal: Pengana Holdings has successfully merged with Hunter Hall International Limited.
Value: $3.1 billion
Key players: The DLA Piper team was led by corporate partner David Ryan (pictured), with head of corporate James Philips, senior associate Elliott Cheung and solicitor Rube Uthayakumar.
Deal significance: According to a statement from DLA Piper, Hunter Hall shareholders approved the merger on 1 June 2017, with more than 92 per cent of votes cast in favour.
The merger of the two companies creates a substantial funds management business, the firm said. It noted that the combined entity has been renamed Pengana Capital Group Limited, with combined funds under management of approximately $3.1 billion.
"We are delighted to have advised our client Pengana Holdings on this significant transaction,” Mr Ryan said.
“Pengana is on a strong growth trajectory, and this merger with Hunter Hall brings together two complementary, strategically aligned investment teams to create a listed funds management business with a solid growth platform, locally and globally.”