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Mid-tier firm scoops MMC, MBF and ClearView deal

Mid-tier firm scoops MMC, MBF and ClearView deal

Henry Davis York has lead the legal advisers on funds management business MMC Contrarian’s acquisition of Australian life insurance and wealth management businesses.

HENRY Davis York has lead the legal advisers on funds management business MMC Contrarian’s acquisition of Australian life insurance and wealth management businesses of MBF Life and ClearView Financial Management Limited.

The firm has acted for MMC on the deal, which bought Bupa Australia’s life insurance businesses, comprising MBF and ClearView.

The acquisition is a step by MMC to expand its financial services industry presence by providing the company with a strong entry into the Australian life insurance market while it consolidates its existing financial planning and wealth management portfolio.

Ian Enright, the partner leading the Henry Davis York team, said: "The acquisition is an important milestone in the evolution of MMC's position in the Australian financial services industry ".

Simon Swanson, the newly appointed managing director of MMC added: "The acquisition is significant for the life industry in Australia.

Swanon praised the Henry Davis York team, saying it helped the firm structure the acquisition and ensure its strategy was embedded in the legal framework of the transaction.

An extraordinary general meeting of MMC shareholders will be held on 30 April to approve various aspects, including the capital raising, of the acquisition.

Henry Davis York special counsel Mark Kimberley, partner Greg Reinhardt, and lawyers Naomi Philp, Veena Srianandarajah, Stephen Iu and Rebecca Laban, also worked on the deal.



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Mid-tier firm scoops MMC, MBF and ClearView deal
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