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Morningstar signs £35m SPA

Global independent investment research provider Morningstar has signed a £35 million sale and purchase agreement in their cross-border acquisition of Praemium Limited.

January 20, 2022 By Lauren Croft
Morningstar signs £35m SPA
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Firm: DLA Piper (Morningstar Inc).

Deal: DLA Piper has advised Morningstar on the cross-border £35 million acquisition of 100 per cent of technology and investment company Praemium Limited’s United Kingdom and international business.

Value: £35 million (approximately $65.1 million).

Area: M&A.

Key players: The DLA Piper team was led by head of corporate Grant Koch, who was supported by solicitors Jake Thornton, Mariam Jaber and Charlie Lian.

Mr Koch also led the cross-border team comprising of lawyers in London (partners Tony Katz and Chris Arnold, senior associate Katie O’Hara and associate Hugo Cliff), Dubai (partner Will Seivewright and senior associate Grace Hunt), and Singapore (partner David Kuo and associate Karen Lee).

In addition, technology and data partner Nick Boyle, assisted by senior associate Alexandra Dagger, led the TSA and IP License arrangements.

Deal significance: The deal, worth approximately $65.1 million in value, will see Morningstar acquire 100 per cent of Praemium Limited’s operations in the UK, Jersey, Hong Kong and Dubai. The SPA was officially signed on 21 December 2021.

“This transaction demonstrates our capabilities in leading complex and multi-jurisdictional transactions,” noted Mr Koch.

“Our multi-disciplinary global team was key to ensuring this transaction progressed smoothly, and we are grateful to have played a key role in another deal for Morningstar.”

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Lauren Croft

Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.

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