Login
Newcastle Permanent merger to create Australia’s largest owned community bank
Clayton Utz has advised Newcastle Permanent on its merger with Greater Bank in a deal worth $19.5 billion.
Emma Musgrave
Firms: Clayton Utz (Newcastle Permanent); Undisclosed (Greater Bank)
Value: $19.5 billion
Area: Merger and acquisition; corporate
Key players: The Clayton Utz team was led by corporate/M&A partner Stephanie Daveson.
The cross-practice team comprised special counsel Andrew Mackenzie and senior associate Lisa Tolhurst (corporate), partner Christy Miller and senior associate Brett Thompson (workplace relations, employment and safety), partner Brendon Lamers and director Alex Lebsanft (tax), special counsel Craig Hine (regulatory and compliance), partner Cameron Gascoyne (intellectual property and technology) and partner Kirsten Webb, senior associate Doug Thompson and lawyer Lindsay Norton (competition).
Deal significance: Newcastle Permanent and Greater Bank are both based in NSW’s Hunter region. The deal between the pair is set to create Australia’s largest owned community bank with around 600,000 customers.
Commenting on the deal, Clayton Utz lead partner Stephanie Daveson said: “We are excited to have assisted Newcastle Permanent structure the transaction in an innovative way not used before in mergers of this type and navigate the regulatory approvals associated with this.”
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.
Email Emma on:
