Hall & Wilcox advises DKN stakeholders in merger
Leading Melbourne law firm Hall & Wilcox have advised DKN Financial Group Limited (DKN)in the recent merger of the South Australian based business operations of Thornton Group (SA) Pty Ltd (Thornton) and Tulare Financial Planners Pty Ltd (Tulare). The Hall & Wilcox team, led by partner Harry New and supported by senior associate Adrian Lynch, facilitated a pre-merger share consolidation in Tulare which resulted in the exiting and restraint of a minority principal member and merging of Tulare (together with its two wholly owned subsidiaries) to become part of Thornton.
Consideration for the purchase was a combination of cash and scrip, requiring a variation to Thornton’s shareholder deed to accommodate the incoming Tulare shareholders to be joined as parties to Thornton’s shareholder agreement.
Hall & Wilcox partner Harry New commented on the deal, “The pre-merger share consolidation in Tulare provided the foundation for the merger of the two operations to proceed and produce a good outcome for all parties. Thornton now has an expanded service offering extending from their existing financial planning services to now include investment, self-managed superannuation and risk services.
“DKN provided great assistance to the team in bringing this transaction to fruition. It has been a pleasure working with them and in particular Rachael Dunne who worked tirelessly throughout.”
The Hall & Wilcox Financial Services team is made up of commercial lawyers who are adept at managing a broad range of financial services business transactions, particularly those requiring a sophisticated understanding of complex commercial and regulatory issues.