Ashurst has advised SocietyOne in relation to the merger of SocietyOne and MoneyMe Limited, by way of the sale of all of the shares in SocietyOne to MoneyMe
SocietyOne is an Australian based, digital finance platform that provides unsecured and secured personal loans, alongside supplementary financial products such as a credit score tool and a banking as a service product. MoneyMe is an ASX-listed, licensed, and regulated credit provider operating in Australia.
SocietyOne shareholders representing 60% of the SocietyOne share register and who will hold between 18.3% and 18.7% of the MoneyMe shares on issue at Completion of the acquisition (including News Corporation, Seven West Media, Reinventure, Consolidated Press Holdings and Australian Capital Equity) have voluntarily agreed to escrow arrangements extending to MoneyMe's 1H23 results in February 2023.
The Ashurst team was led by Corporate Transactions partner Anton Harris who was assisted by partners Rehana Box and Ben Landau, senior adviser Michael Ryland, senior associates Alli Clark, Dillon Fuzi, John Nielsen and Alexandra Nash, associates David Tilley and Zach McLoughlin, with graduate Kevin Jacob (Corporate Transactions); partner Rebecca Cope and associate Tegan Keizer (Digital Economy Transactions); partner Vicki Aron and senior associate Tracy Carr (Real Estate); partner Philip Trinca and senior associate Helen Yu (Finance Regulatory); partner Anita Cade and senior associate Imogen Loxton (IP/Media); partner Jennifer Schlosser and Emma Malone (Global Markets); partners Kenneth Tang and Steve Smith, graduate Kim Ching (Global Loans); with partner Jennie Mansfield and senior associate Mohamad Ardati (Employment).
