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World Nomads changes hands for $106m
Two firms have advised on the sale of Australian travel insurance provider World Nomads to insurer nib.
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Firms: HWL Ebsworth (World Nomads Group); King & Wood Mallesons (nib)
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Deal: Insurance company nib bought World Nomads Group.
Value: approx. $106 million
Area: M&A
Key players: The team from HWL Ebsworth was led by partner Robert Gibson (pictured), supported by solicitor Martha Ware. At King & Wood Mallesons, partner Meredith Paynter and senior associate Miriam Kleiner worked on the deal.
Deal significance:
World Nomads Group is the third largest distributor of travel insurance in Australia. Founded in Sydney in 2000, the group has a presence in 140 countries including the United States, Canada and United Kingdom
The sale to nib was announced on the Australian Securities Exchange in early July and has just completed.
