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Freehills and Minters act on CBA Count grab
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Freehills and Minters act on CBA Count grab

Freehills has advised the Commonwealth Bank of Australia (CBA) on its $373 million acquisition of Count Financial Limited, advised by Minter Ellison.The acquisition was approved by the Supreme…

Freehills has advised the Commonwealth Bank of Australia (CBA) on its $373 million acquisition of Count Financial Limited, advised by Minter Ellison.

The acquisition was approved by the Supreme Court of New South Wales last week (28 November) and implemented by way of scheme of arrangement.

Count's shareholders voted 99.38 per cent in favour of the scheme with 96.31 per cent of Count's option holder votes also cast in favour. Count shareholders are able to elect to receive consideration for their Count shares wholly in cash or in CBA Shares.

The acquisition is expected to increase CBA's number of advisers from approximately 1,220 to more than 1,850, ranking it second by total number of advisers nationally.

The Freehills team was led by M&A partner Tony Damian, supported by senior associates Nicole Underhill and Clayton James and solicitors Ben Jones and Alison Crocker, together with Henry Broekhuijse and Melissa Jones from CBA Legal Services.

Damian has previously advised CBA on its $2.1 billion acquisition of BankWest and its $10.1 billion acquisition of Colonial Limited.

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