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Energy Super cements merger with LGIAsuper
Corrs Chambers Westgarth has advised Energy Super on its merger with LGIAsuper.
Emma Musgrave
Firms: Corrs Chambers Westgarth (Energy Super); Undisclosed (LGIAsuper).
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Deal: Energy Super has merged with LGIAsuper.
Value: $28 billion.
Area: M&A.
Key players: The Corrs legal team was led by head of financial services Michael Chaaya.
Deal significance: The merger is set to create a membership of approximately 250,000 members and is expected to increase investment opportunities; deliver strong and sustainable, long-term returns; lower investment and administration fees; improve access to enhanced products and services; and provide even greater presence in regional areas.
“Corrs is excited to have advised our longstanding Queensland client Energy Super in this matter,” said Mr Chaaya.
“Regulatory and market pressure will continue to be a feature of the Australian superannuation landscape, and we are delighted to have achieved such a successful outcome despite these challenges.”
