Slater & Gordon confirms £33m Pannone sale

The Australian listed firm is upping the stakes in the UK.

BRW

Due diligence on the merger was ‘substantially completed,' according to yesterday's announcement. The deal includes a£25.5m cash payment and £7.5m in Slater & Gordon shares with  the majority of the firm transferring to Slater & Gordon. Areas bought by Slater & Gordon  include private client, personal injury, property, employment and litigation.Approximately 200 lawyers, 64 which are partners, will join Slater & Gordon when the deal completes in February. However, a questionmark hangs over others services developed by the firm including Connect2Law, developed as a law firm referral network and the firm’s white-label arm Affinity as Connect2Law chief executive David Jabbari has exited the firm before the deal went through Affinity head  Charles Layfield has also left the firm lead to speculations about the deal. Slater & Gordon first entered the UK market in 2012 after acquiring Russell Jones & Walker. In the past two years it has bought all or part of Fentons, Taylor Vinters, Goodmans and Pickerings.

 

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