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LGIAsuper acquires Suncorp’s superannuation business
Global law firm Jones Day is advising LGIAsuper on its acquisition of Suncorp’s superannuation business.
Emma Musgrave
Firms: Jones Day (LGIAsuper); undisclosed (Suncorp).
Value: $45 million.
Area: M&A.
Key players: The team advising LGIAsuper was led by Jones Day Brisbane-based financial markets specialist Jo Dwyer and Brisbane-based M&A specialist Isaac West, with assistance from Benny Sham, Ingrid Costello, Dylan McIntyre and Samuel Cross.
Deal significance: According to a statement provided by Jones Day, SPSL has 137,000 superannuation members and approximately $6.4 billion in funds under administration.
“The firm is also assisting LGIAsuper with its merger with Energy Super,” it noted.
“The combined value of the LGIAsuper, Energy Super and Suncorp funds will be around $28 billion, with a combined membership of approximately 250,000.”
Commenting further, LGIAsuper chief executive Kate Farrar said “[the Suncorp] acquisition, combined with the Energy Super merger, will achieve an ideal, sustainable fund size, while maintaining our status as a boutique and personal superannuation provider”.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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