Deal: Ashurst has advised SocietyOne on its merger with MoneyMe Limited by way of the sale of all the shares in SocietyOne to MoneyMe.

Value: N/A

Area: M&A, finance

Key players: The team was led by corporate transactions partner Anton Harris who was assisted by partners Rehana Box and Ben Landau, senior adviser Michael Ryland, senior associates Alli Clark, Dillon Fuzi, John Nielsen and Alexandra Nash, associates David Tilley and Zach McLoughlin, and graduate Kevin Jacob.

They were also supported by partners Rebecca Cope, Vicki Aron, Philip Trinca, Anita Cade, Jennifer Schlosser, Emma Malone, Kenneth Tang, Steve Smith, Jennie Mansfield, associates Tegan Keizer, Helen Yu, Imogen Loxton and Mohamad Ardati and graduate Kim Ching.

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Deal significance: SocietyOne is an Australian digital finance platform that provides unsecured and secured personal loans, alongside supplementary financial products such as credit score tool and a banking service product. MoneyMe is an ASX-listed licensed and regulated credit provider operating in Australia.

SocietyOne shareholders representing 60 per cent of the SocietyOne share register and who will hold between 18.3 per cent and 18.7 per cent of the MoneyMe shares on issue at completion of the acquisition (including News Corporation, Seven West Media, Reinventure, Consolidated Press Holdings and Australian Capital Equity) have voluntarily agreed to escrow arrangements extending to MoneyMe’s 1H23 results in February 2023.