Herbert Smith, G+T steer Mitsubishi’s acquisition of Link

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Mitsubishi’s Link acquisition
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Herbert Smith Freehills and Australia’s Gilbert + Tobin (G+T) have acted on Mitsubishi UFJ Trust and Banking (MUTB) acquiring Link Administration Holdings (Link Group), marking an enterprise value of AUD2.1 billion (USD1.39 billion).

Herbert Smith Freehills advised Link Group on all aspects of the acquisition deal, which was completed through a scheme of arrangement. Partners Tony Damian, Nicole Pedler and Claire Thompson led the transaction team. “The deal demonstrates the continued strength of M&A activity in Australia as well as the important role of Japanese investment in our market,” Damian said.

Partners Costas Condoleon and Karen Evans-Cullen led the G+T transaction team advising MUTB. The firm’s coporate/M&A, competition, disputes and due diligence teams also assisted.

UBS and Macquarie Capital acted as financial advisers to Link Group.

The transaction was officially completed on 16 May 2024, following regulatory approvals across multiple jurisdictions including Australia, the UK, Ireland, India and Japan. Link Group has now become MUFG Pension & Market Services Holdings.

Link provided scaled, technology-enabled administration solutions for 5,800 clients globally, including some of the world’s largest blue-chip corporations, pension funds and financial institutions.

MUTB is the trust banking arm of Japanese financial services giant Mitsubishi UFJ Financial Group.

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