Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Japanese firm Rakuten Securities, Inc. on its acquisition of FXAsia Pty Ltd, an Australian foreign currency broker.
Rakuten Securities, Inc. has acquired 100% of the shares in FXAsia Pty Ltd. Rakuten Securities is a member of the Rakuten Group, a major Japanese e-commerce and financial services provider. The FXAsia acquisition marks the Rakuten Group’s first investment in Australia.
The Corrs team advising Rakuten Securities was led by Corporate Partners Michael Chaaya and Jeremy Horwood, with support from Special Counsel Peter Anderson, Senior Associates Aidan Lavin and Nicole Graham, and Lawyers Isobel Farquharson and Louise Hang.
Corrs partner and Chair of the Financial Services Industry Division Michael Chaaya said, “It was a privilege for Corrs to have the opportunity to work with Rakuten Securities on their entry into Australia. The expansion of their FX business into Australia coincides with a pattern of growth in financial services M&A activity and we were thrilled to bring together our financial services and M&A teams to assist with this exciting transaction. Given Rakuten Securities’ impressive history of providing FX services in Japan and Hong Kong, I am confident they will make the most of their entry into Australia.”
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