Dentons in Australia has advised Energy Industries Superannuation Scheme Pty Limited (EISS Super), the trustee of a specialist super fund for the NSW energy industry, on its merger with Cbus Super (Cbus), one of Australia’s largest super funds. At 30 June 2022 EISS Super had 19,000 members and assets of AU$5.3 billion, Cbus had 850,000 members and assets of AU$70 billion. The merger occurred on Thursday 11 May 2023 and members were automatically transferred to Cbus on 12 May 2023.

Lead Partner Amber Warren states, “We were delighted to be able to support EISS Super navigate an increasingly complex regulatory landscape, concluding in the transition of their members to Cbus”.

Partner Andrew Shearwood comments, “It is a privilege to advise EISS, as they join Cbus to expand their investment portfolio. This merger further demonstrates Dentons’ experience in merger and the regulation of the financial services sector. Dentons has acted for EISS Super since 2020, on a range of matters involving corporate, financial services regulatory, real estate and disputes advice and we are pleased to once again assist EISS Super.”

EISS Super is trustee of two funds, Energy Industries Superannuation Scheme Pool A and Energy Industries Superannuation Scheme Pool B. Dentons acted primarily in relation to the merger of Pool A with Cbus by way of a successor fund transfer and in dealing with regulators. The advice Dentons gave in relation to the merger started when the memorandum of understanding between Cbus and EISS was entered into in December 2021 and has included due diligence; an equivalent rights assessment for Pool A; the merger implementation deed and the mechanism for the transfer of assets to Cbus. Playing critical roles were Partners Amber Warren, Andrew Shearwood and Louise Massey.