Allens Arthur Robinson (Allens) is advising leading domestic insurance intermediary iSelect Ltd on its first acquisition in the Australian market.
Under the deal, which was declared unconditional on 13 October, iSelect will acquire fellow market-leading finance comparison site InfoChoice Limited.
The acquisition, which is structured as a takeover bid, is being funded via a $35 million loan facility arranged by Goldman Sachs & Partners Australia Capital Markets Limited and is scheduled to close on 31 October.
Partner Mark Malinas, who is leading the Allens team on the transaction, said it was pleasing to advise iSelect on the first acquisition in its 11-year history.
‘The acquisition is an important one for iSelect and we are delighted to advise them on their expansion plans,’ Mr Malinas said.
Allens Banking & Finance Partner Simon Lynch and Senior Associate Warwick Newell advised iSelect on the $35 million loan facility.
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