Freehills is advising Commonwealth Bank of Australia (CBA) on its $2.1 billion acquisition of BankWest from British bank HBOS. A definitive Sale and Purchase Agreement has been signed and completion of the deal is subject to regulatory approvals.
Freehills partners Tony Damian and Philippa Stone led a team of lawyers who assisted CBA with all aspects of the transaction. This also included a contemporaneous $2 billion institutional placement to fund the acquisition.
The Freehills team included partners Peter Dunne, Fiona Gardiner-Hill, Patrick Lowden, Alan Peckham, Darren Perry, Donald Robertson, Tony Coburn and Michael Vrisakis, along with senior associates Kristy Dixon and Justine Turnbull.
BankWest has 100 branches in Western Australia and 860,000 retail customers.
Under the deal, CBA will also acquire the St Andrew’s Australia investment and insurance businesses.
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