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2 October 2020
Nicholson Ryan Lawyers has advised Praemium Limited (ASX:PPS) on its successful off-market cash and scrip takeover bid for Powerwrap Limited (ASX:PWL), for an aggregate deal value of circa $70 million.
Praemium is a highly regarded provider of technology platforms for managed accounts, portfolio administration, investment administration and financial planning. Praemium services in excess of 300,000 investor accounts covering over $140 billion in funds globally for more than 1,000 financial institutions and intermediaries, including some of the world’s largest financial institutions.
Leath Nicholson (Director) led the transaction, with support from Andrew Bini (Director) Veroshan Sripragasan (Senior Associate) and Andrew Tsirikis (Lawyer).
The team also advised Praemium on a $15 million cross-border debt funding facility with HSBC, which was integral for Praemium to pursue such a strategic acquisition.
Commenting on the deal, Director, Leath Nicholson said “We are delighted to have advised our long-time client Praemium on this highly transformative opportunity and are excited to see Powerwrap grow under their ownership.”
For further information, please contact:
Ian Christiansen, Practice Manager
(03) 9640 0400 or firstname.lastname@example.org