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PM Capital Asian Opportunities Fund Limited merger one step closer
Global law firm Baker McKenzie is advising PM Capital Asian Opportunities Fund Limited as the group enters into a Scheme Implementation Deed (SID) to merge with PM Capital Global Opportunities Fund Limited.
Emma Musgrave
Firms: Baker McKenzie (PM Capital Asian Opportunities Fund Limited); Johnson Winter & Slattery (PM Capital Global Opportunities Fund Limited).
Value: Undisclosed.
Area: M&A, corporate.
Key players: The Baker McKenzie team was led by partner Richard Lustig, with assistance from partners Bill Fuggle and Helen Joyce, special counsel Caroline Tait, and associate Sophie Snow.
Deal significance: According to Baker McKenzie, the merged entity comprising PAF and PGF will have a portfolio pre-tax net asset value of $712 million.
“The merger is expected to provide both PAF and PGF shareholders a number of significant benefits including: the reduction of fixed costs relative to investment returns, increasing return per share for any given return generated by the investment manager; no increase in aggregate investment management costs arising as a result of the merger; increased trading liquidity on the ASX making it easier for shareholders to buy and sell on market; and increased market awareness and following by brokers, researchers, financial planners and prospective investors,” Mr Lustig explained.
It is anticipated that PAF shareholders will receive detailed information relating to the merger in a Scheme Booklet to be sent to shareholders during November 2021 and will be given the opportunity to vote on the merger in December 2021, as per a Baker McKenzie statement.
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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