Arnold Bloch Leibler has advised wealth management technology provider Praemium on the sale of its international businesses to global investment research house Morningstar for $65.1 million.
As reported in The Australian, the sale will allow Praemium to continue its journey to become one of the largest, independent platform providers in the Australian market.
Corporate and M&A partner Jeremy Leibler, senior associate Vidushee Deora and lawyer Ryan Taylor advised on the sale.
Jeremy Leibler said: “This is a significant milestone for Praemium and we are delighted to be involved. It presents an exciting opportunity for Praemium to solidify its status as a leader in the Australian platform market.”
The deal is subject to regulatory approval from the Financial Conduct Authority in the UK and the Jersey Financial Services Commission. It is expected to be completed by mid-2022.
