Deal: Mercy Super and HESTA have merged.

Value: Undisclosed

Area: Merger and acquisition

Key players: The Ashurst team in this matter was led by Scott Charaneka, who was assisted by partner Nicholas Mavrakis, counsel Edmond Park, and associates Olivia Duce and Ashley Zhang. Ashurst instructed Dominique Hogan-Doran SC and Trent Glover.

Deal significance: This deal saw Ashurst advise Mercy Super on the requisite regulatory requirements and assist with the review of data room materials, the formation of a project transition plan and the negotiation of material contracts, a statement from the firm said, noting that the litigation in this matter involved parallel applications by Mercy Super and HESTA, which joined the attorneys-general for Queensland and Victoria and APRA as an amicus curiae.

“As part of this transaction, declarations have successfully been sought from the Queensland Supreme Court,” an Ashurst statement said.

“The transaction also involved the establishment of a Brisbane office for HESTA.”

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Commenting further, Ashurst lead partner Scott Charaneka said: “We are very pleased to have acted for Mercy Super in this important matter, which also assisted the superannuation industry in its understanding of whether state-based secret commission laws can apply to successor fund transfers.”