MUFJ Trust and Banking Corporation Buys Link Administration

Mitsubishi UFJ Trust and Banking Corporation, a part of MUFG's organization, has determined to buy all of the stock of Link Administration Holdings (Link Group), an Australian publicly-traded company, and initiate the procedure of including Link Group as one of its subsidiaries. The Acquisition is to be executed through a Scheme of Arrangement (SOA) according to the Australian Corporations Act, which is a way of obtaining all of the stock of an Australian listed company. Link Group and the buyers agreed to terms of the Acquisition in the recently signed Scheme Implementation Deed (SID). Implementation of the SOA and the full purchase of the shares to conclude the Acquisition are both contingent upon the approval of the Acquisition by the shareholders of Link Group at a shareholders meeting, as well as the approval of the Australian court and relevant regulatory bodies. In pursuit of sustainable growth and increased profitability, MUFG has been investing in expanding business areas, including the Global Asset Management & Investor Services Business. The aim of MUFG's Global Investor Services (IS) sector is to offer administration services and value-added financial products to global investment funds, asset managers, and pension funds, with the goal of becoming a primary infrastructure provider in the financial market. To this end, it has made inorganic strategic acquisitions of global fund administration companies. Link Group is the foremost and most extensive Australian pension administration business, offering services to around 10 million accounts (equalling 41%) of Australian private pension members. Link Group also provides stock administration services connecting issuers and stakeholders in Australia, the U.K., and India with share registry administration, employee share plans and investor relations, and stands out in the top tier of the market in each country. As a result of the growth of these businesses, Link Group's digital platform is employed to provide administration services to more than 100 million beneficiaries globally. By acquiring global pension and stock administration functions, MUFG can increase its global reach, open up growth opportunities, and expand its business scale. This will be facilitated by access to Australian funds and global corporate clients, enabling the Global IS Business to provide a wide range of solutions. The Acquisition will be conducted in accordance with the Australian Corporations Act through a Scheme of Arrangement (SOA) and is dependent on certain conditions being met, including approval of the Acquisition at a Link Group shareholders’ meeting (requiring 75% of the votes cast and a majority of the shareholders present and voting), authorisation from the Australian court as well as the approval of the Australian Foreign Investment Review Board. Should all the conditions be fulfilled, MUTB shall acquire all outstanding Link Group shares, regardless of voting decision. The SOA, including the consideration per share, conditions, prerequisites, proceedings, statements and guarantees, schedule, etc., will be recorded in the Scheme Information Document (SID). It is anticipated that the share purchase will occur beginning in June 2024 if everything goes as planned. Be part of our Tokyo FinTech community - follow our publication and join the hundreds of followers reading our content every day. Register for our short weekly digest, the Japan FinTech Observer, which are available on both Medium and LinkedIn. If you're in Tokyo, or visiting, you should really come to our Tokyo FinTech Meetup. In addition, you can always check out our YouTube channel and LinkedIn page for more info.

Source: https://medium.com/tokyo-fintech/mufj-trust-and-banking-corporation-acquires-link-administration-e885bdfd02e6?source=rss------fintech-5