In a move that jolted Australia’s wealth management industry, private equity heavyweight CC Capital and global asset manager One Investment Management (OneIM) have joined forces to acquire Insignia Financial Ltd. in a blockbuster AU$3.9 billion ($2.5 billion) deal. The transaction—cloaked in strategic ambition, legal firepower, and high premium—is set to reshape the landscape for superannuation and advisory services down under.
The all-cash offer of AU$4.80 per share, announced late Monday, represents a towering 56.9% premium over Insignia’s last undisturbed trading price on December 11. The agreement will unfold through a court-sanctioned scheme of arrangement, pending shareholder and regulatory approvals.
A Legal Powerhouse Behind the Scenes
The deal is steered by a phalanx of legal advisors:
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Ashurst LLP (Australian counsel for CC Capital)
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Skadden, Arps, Slate, Meagher & Flom LLP (U.S. counsel for CC Capital)
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Herbert Smith Freehills Kramer LLP (Australian counsel for OneIM)
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Weil, Gotshal & Manges LLP (U.S. counsel for OneIM)
While Skadden’s team includes elite partners such as Todd Freed, Heather Cruz, and Michael Hong, Weil is fielding top-tier talent including Kyle Krpata, Jacqui Bogucki, and Danek Freeman.
