find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Super fund merger reinvests in Tassie

Super fund merger reinvests in Tassie

The recent merger of two super funds in Tasmania is said to be one of the most substantial sector deals in recent times.

Firms: K&L Gates (Tasplan Pty Ltd)

Deal: Tasplan Pty Ltd (Tasplan) has merged with the RBF Tasmanian Accumulation Scheme.

Value: $8 billion (funds under management)

Area: M&A

Key players: The K&L Gates team advising Tasplan was led by Melbourne-based partner Jim Bulling. Sydney partner Michael Neylan, senior associates Daniel Knight and Rania Seoud, and lawyers Stephen Clarke and Michelle Chasser assisted with the transaction.

Deal significance:

According to a statement released by the K&L gates, Tasplan is Tasmania’s only united industry super fund. Tasplan has 165,000 members and a value approaching $8 billion of funds under management.

Tasplan’s merger with the state-run RBF Tasmanian Accumulation Scheme has been described by the firm, who advised the industry super fund on the deal, as one of the most substantial super fund mergers in recent times.

K&L Gates gave advice for a range of deal elements for the merger, including board and governance issues, the allocation of assets between transferring members and those members who planned to remain with the fund in its new form.

Lead partner on the deal, Jim Bulling, said that the heavily regulated sector made mergers such as this difficult.

“Superannuation lies at a heavily regulated crossroads, making mergers of this kind challenging. This was a long process with many critical steps, and our team had the experience required to ensure its successful completion,” Mr Bulling said.

“This merger is a great result for Tasplan’s members and the state of Tasmania, who will benefit from lower fees and increased investment in the state,” he said.


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Super fund merger reinvests in Tassie
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...