The circa $50m acquisition is Zip’s first international transaction and provides access to New Zealand, United Kingdom, United States and South African ‘buy now, pay later’ markets.
As reported in the Australian Financial Review, Zip CEO Larry Diamond commented: “This transition marks the beginning of Zip's global expansion story”.
The transaction was conducted for Zip by ABL Corporate and M&A partners Jeremy Leibler and Jason van Grieken, and Senior Associate Gavin Hammerschlag.
Jeremy Leibler commented: “We are pleased to have advised on another significant transaction, which continues the strong relationship we have with Zip. Our team looks forward to supporting their continued expansion in the fintech sector”.
ABL has a long-standing relationship with Zip, having advised on numerous landmark transactions for the company, including a $47m capital raising and a $40m strategic equity investment from Westpac.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising on clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.
