EQT Holdings Limited (ASX:EQT) agreed to acquire Australian Executor Trustees Limited from Insignia Financial Ltd. (ASX:IFL) for approximately AUD 135 million on August 22, 2022. The acquisition will be funded through a combination of debt and equity, including approximately AUD 125 million from an equity raising, comprising a AUD 40.4 million institutional placement and a AUD 84.6 million 1 for 6 accelerated pro-rata non-renounceable entitlement offer and AUD 40 million from the drawdown of an additional debt facility with Australia and New Zealand Banking Group Limited. The proceeds from the sale are expected to be used to reduce debt and fund Insignia Financial's Transformation initiatives.

The completion of transaction is subject to the satisfaction of conditions precedent and is expected to occur by the end of calendar year 2022. As of November 14, 2022, the transaction was approved by federal treasurer and the transaction is not expected to complete on November 30, 2022. Greenhill & Co.

Australia Pty Limited acted as financial advisor to EQT Holdings. Tim McEwen, Cecilia Mehl, Ling Zhu and Corey Michailidis acted as advisors for the capital raise of EQT. Adam Charles, Tim McEwen, Nick Lee, Sarala Baskaran and Jeremy Soh of Herbert Smith Freehills acted as legal advisors to EQT Holdings Limited (ASX:EQT).

Barrenjoey Markets Pty Limited and Ord Minnett Limited are acting as joint lead managers and joint underwriters to the Equity Raising, and Wilsons Corporate Finance Limited is acting as co-lead manager. King & Wood Mallesons acted as legal advisor to Australian Executor Trustees and Insignia Financial. Ernst & Young, Korea, Financial Advisory Arm acted as Due Diligence Provider to EQT Holdings Limited (ASX:EQT).