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Corrs advises on major financial acquisitions
Corrs Chambers Westgarth guided AZ NGA and Entireti in acquiring financial service entities from AMP
Australia's leading independent law firm, Corrs Chambers Westgarth, has successfully advised AZ Next Generation Advisory Limited (AZ NGA) and Entireti Limited on two significant acquisitions from AMP, marking a major development in Australia's financial services landscape.
AZ NGA, a prominent professional services group, acquired AMP's minority stakes in 16 financial planning and credit advisory practices across Australia for AUD 82.2 million. Simultaneously, Entireti, an advice business services group, secured AMP's advice licensees and self-licensed support services business, Jigsaw, for AUD 10.2 million. These transactions position Entireti as the largest advice business services group in Australia.
The complex negotiations and multifaceted transactions were overseen by a skilled team at Corrs, led by corporate partner Felicity Saxon. The team brought together expertise across the firm's corporate, financial sponsors group, litigation, technology, media and telecommunications, restructuring and insolvency, competition, tax, and employment practices. Key partners involved in the transactions included Andrew Lumsden, James North, Michael Chaaya, Katrina Sleiman, Benjamin Emblin, Cameron Blackwood, Jack de Flamingh, Ian Reynolds, and Michelle Dean.
Felicity Saxon, reflecting on the achievement, stated, "We are pleased to have advised both Entireti and AZ NGA on these significant acquisitions, which will pave the way for growth and contribute to a broader strategic partnership between AZ NGA, Entireti, and AMP."
She added, "These transactions reinforce Corrs' reputation as a leading advisor in financial services M&A, showcasing our team's technical expertise in navigating complex financial services M&A matters."
The successful completion of these deals not only highlights Corrs' strong capabilities in the financial services sector but also underscores its role as a key advisor in major mergers and acquisitions, particularly in a rapidly evolving market.
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