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Australian company Afterpay Touch Group has expanded into the United Kingdom by acquiring ‘buy now, pay later’ platform ClearPay as well as its placement and share purchase.
Firm: Baker McKenzie (Afterpay Touch Group); Shoosmiths (ClearPay).
Area: Capital Markets.
Value: Combined $137 million.
Key players: The Bakers team was led by partner Guy Sanderson, who was assisted by senior associate Lana Tian, as well as partner Lauren Magraith and associate Matthew de Cataldo.
Deal significance: “We are delighted to have worked with Afterpay on this transaction, which will be a game changer for UK retailers and consumers. Afterpay is a great Australian technology success story and we are very proud to have worked alongside the company on its growth trajectory, from IPO in 2016, merger with Touchcorp in 2017, and now international expansion,” Mr Sanderson said.
“Baker McKenzie is pleased to have been able to showcase our international M&A, ECM and fintech industry credentials on this deal.”
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
