Herbert Smith Freehills advises Suncorp Group on completion of landmark A$4.9 billion sale to ANZ

The transaction was led by corporate M&A partners Matt FitzGerald and Tony Damian, with Kristin Stammer advising on intellectual property aspects, Linda Evans and Stephanie Panayi advising on competition aspects, Phillip McMahon on banking aspects, Priscilla Bryans on corporate governance aspects, Charlotte Henry on banking regulatory aspects, Drew Pearson on employment aspects, Ian Reid on separation, with senior associates Lucinda Grant, Caitlin Walker, Eloise Jolly, Sam Gonski, Chris Nowland and Carolyn Harris supporting key aspects of the transaction. They were assisted by solicitors Nini Lu, Spandan Das, Nicholas Horwood, and graduate Charles Cunningham.

Matt FitzGerald noted, “It has been a pleasure to work closely with the Suncorp team on this landmark M&A deal and we congratulate Suncorp Group and ANZ on achieving completion.”

Tony Damian commented, “This is a significant transaction for the financial sector, involving a variety of governmental approvals, and we were honoured to be involved in it.”

Suncorp Group CEO Steve Johnston said, “The completion of the sale was a significant strategic milestone and enabled Suncorp as a dedicated insurer to sharpen its focus on the way it delivered insurance to its customers and value for shareholders.”

Herbert Smith Freehills worked with Suncorp’s legal team headed by then Group Executive, Completion & Transition Belinda Speirs, Executive Manager, Corporate Advisory David McManus, Executive Manager, Legal Regulatory & Completion Tarnya North, Principal Legal Completion Advisor, Completion & Transition Andrew Phillips-Wild and Principal Legal Completion Advisor, Completion & Transition Samir Bhagat.