Firms: Allens (Bendigo and Adelaide Bank); King & Wood Mallesons (Equity Trustees)
Deal: Bendigo and Adelaide Bank has entered into a partnership involving the sale of Equity Trustees’ estates business.
Area: Banking and finance
Key players: The legal team advising Bendigo and Adelaide Bank was led by partner Emin Altiparmak (pictured), with assistance from senior associate Georgie Korman and lawyer Dale Straughen.
Deal significance: The partnership between Bendigo and Adelaide Bank and Equity Trustees includes a five-year referral arrangement through which Equity Trustees will provide estate planning, management and administration support for Bendigo and Adelaide Bank customers throughout Australia.
“We congratulate Bendigo and Adelaide Bank on this strategic partnership and divestment,” said Allens partner Emin Altiparmak.
“The sale of the estates business, which dates back to the 1880s, presents significant opportunities for both parties and continues the trend of consolidation in this sector.
“We're excited to work with Bendigo and Adelaide Bank as it continues to find new ways to create value for its customers and shareholders.”