Hannes Snellman Counsel to Commonwealth Bank in the Sale of Its Colonial First State Global Asset Management Business to Japanese Bank
2 November 2018
Hannes Snellman acted as Finnish counsel to Commonwealth Bank (CBA) in the sale of its global asset management business, Colonial First State Global Asset Management (CFSGAM), which has established offices across Europe, the US, and Asia-Pacific region, (the “Business”) to Mitsubishi UFJ Trust and Banking Corporation for AUD 4.1 billion. The Business included energy and infrastructure assets in various jurisdictions including 40% stake in Caruna Oy that is the largest distribution system operator in Finland. As at 30 June 2018, CFSGAM managed assets in the amount of AUD 213 billion on behalf of institutional investors, pension funds, wholesale distributors, investment platforms, financial advisers, and their clients worldwide.