Baker McKenzie acted as Australian and US counsel to Morgan Stanley in connection with its role as sole underwriter of a $450 million equity placement by IOOF.

Baker McKenzie Head of Equity Capital Markets in Australia, Craig Andrade stated:

"We were delighted to assist the team at Morgan Stanley execute a transaction of such strategic importance to their client, IOOF, and this acquisition cements IOOF's position as Australia's leading advice-led wealth manager."

IOOF Holdings will buy ANZ's OnePath pensions and investments business and four aligned dealer groups for $975 million, and has signed an agreement to provide wealth management solutions to ANZ's customers. The transaction will be funded through a A$450m fully underwritten institutional placement, a share purchase plan and new debt facilities.

Craig was assisted by a Baker McKenzie team comprising: Lauren Magraith and Ivo Basoski. 

Nomura and Gilbert + Tobin are advising IOOF.

This transaction comes on the heels of Baker McKenzie successfully acting for: Mantra Group Limited, in its acceptance of AccorHotel's proposal to acquire all of the shares in Mantra Group for approximately A$1.2 billion in cash; Home Investment Consortium in acquiring the Masters Hardware business from Woolworths; Enice Holding Company Limited in cross border privatisation offer put to CDI Holders by Tech World Limited; Valeant Pharmaceuticals International, Inc. on completion of the sale of its iNova Pharmaceuticals business to a company jointly owned by funds advised and managed by Pacific Equity Partners and The Carlyle Group for US$930 million; and the first-ever Australian IPO of a German company - Pyrolyx AG (the Pyrolyx Group). 

 
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