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Herbert Smith Freehills has advised ASX-listed Link Group on the sale of its UK and Irish funds management business (excluding Woodford related liabilities) to Waystone Group for an aggregate consideration value of between £110 million to £140 million. The sale is conditional on certain regulatory approvals and third party consents to the transfer of business to Waystone, and is expected to complete by October 2023.

The team was led by Corporate partners James Palmer and Alex Kay and senior associate Sophie Thompson, supported by senior associates Kaja Kluziak and Emily Naylor, associates Eliza Joseph, Stuart Kerr and Alison Cheung, and trainee solicitors Lara Watkins-Truitt and Yasmin Jackson.

The wider team included Chris Ninan, Karen Anderson and Michael Tan (FSR), Aurell Taussig, James Tryfonos and Graham Crocker (Tax), David Coulling and Terence Lau (TMT), Andrew Wells and Kate Peck (IP), Clive Cunningham and David Wormley (FSR) and Veronica Roberts, Sam Tappenden and Phoebe Hirst (Competition).

The firm has a long-standing relationship with Link Group in Australia through Corporate partner Tony Damian who, together with Nicole Pedler and Jacob Lancaster, assisted with the Australian aspects.

The team worked closely with the Link team and in particular with Link Group general counsel Sarah Turner and CEO Vivek Bhatia.

James Palmer commented: "We are delighted to have supported Link Group with this significant matter, which has allowed Link to reach agreements intended to create a more focused company.  The transaction was complex, innovative and required strategic and day to day integration between our various practice groups. This matter is a great example of our experience of building cross practice teams, and of our deep financial sector expertise, coming together to help in practice. We look forward to working closely with Link with a view to achieving a successful completion of the transaction."

Clifford Chance, led by Alanna Hunter, advised Link Fund Solutions Limited (a subsidiary of Link Group). McCann Fitzgerald, led by Iain Ferguson, provided Irish local counsel advice to Link Group. Waystone were advised by Simmons & Simmons, led by Ania Rontaler.

Key contacts

James Palmer photo

James Palmer

Partner, London

James Palmer
Alex Kay photo

Alex Kay

Partner, London

Alex Kay
Sophie Thompson photo

Sophie Thompson

Senior Associate, London

Sophie Thompson
Kaja Kluziak photo

Kaja Kluziak

Senior Associate, London

Kaja Kluziak
Emily Naylor photo

Emily Naylor

Senior Associate, London

Emily Naylor
Eliza Joseph photo

Eliza Joseph

Associate, London

Eliza Joseph
Stuart Kerr photo

Stuart Kerr

Associate (South Africa), London

Stuart Kerr
Chris Ninan photo

Chris Ninan

Partner, London

Chris Ninan

Media contact

For further information on this article please contact

Wendy Lee-McGuinness

Senior Communications Manager

London

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London James Palmer Alex Kay Sophie Thompson Kaja Kluziak Emily Naylor Eliza Joseph Stuart Kerr Chris Ninan