SAS Trustee Corporation (STC) today announced that it had completed the sale of 100% of the shares in State Super Financial Services Australia Limited trading as StatePlus to First State Super.
John Livanas, CEO of STC, said: “I congratulate Michael Dwyer and his team for the successful acquisition of StatePlus and look forward to a long and mutually beneficial working relationship.
It is a change of an era with StatePlus now having a new owner and we have every confidence that First State Super will continue to strive to ensure that StatePlus provides the best financial planning and advice services to STC members”.
“First State Super won the acquisition of StatePlus after an extensive and keenly contested dual track process where a potential IPO was pitched against trade bidders,”’ Mr Livanas said.
“Our advisers Macquarie Capital (Australia) Limited, Herbert Smith Freehills and KPMG helped us conduct a transparent process overseen by a probity adviser that delivers a great outcome for STC’s members.”
