06 July 2007
Sydney, 6 July 2007: A team from Clayton Utz has advised Macquarie Bank Limited and Macquarie Equities Limited on their acquisition of a strategic 51% stake in foreign exchange service provider OzForex Pty Limited. The acquisition, for an undisclosed sum, completed on 15 June.
OzForex is one of the world's leading foreign exchange payment providers, and services around 30,000 transacting customers in more than 40 countries around the world.
The Clayton Utz team included Jonathan Algar, Rod Halstead, Jim FitzSimons, Dean Jordan and Joelle Wales. The team advised on a suite of transaction and investment documentation including the share purchase and shareholders' agreements.
Team leader Jonathan Algar said Clayton Utz was pleased to have assisted Macquarie on such a strategically important transaction. "The acquisition will allow Macquarie to offer tailored foreign exchange services to its substantial base of 670,000 retail financial services customers within Macquarie's Financial Services Group. The deal will also fast-track the global growth plans of OzForex."
