Bird & Bird advises on Sale of IPSI to Commonwealth Bank of Australia
International law firm Bird & Bird has acted on the sale of SB SPV No.1 Pty Ltd (IPSI) to Commonwealth Bank of Australia (CBA).
Salter Brothers' Equities team established IPSI in December 2022 as a dedicated investment vehicle to acquire the business, with Salter Brothers acting as the lead investor.
Over the subsequent three years, the team worked closely with management and the Board to strengthen governance and drive disciplined investment in product and commercial execution. This resulted in an enterprise-grade payments infrastructure platform that CBA will integrate into its business and institutional banking operations over the course of 2026.
The Bird & Bird team were led by Chris Clarke, Head of Corporate M&A Australia, Aaron Chan, Special Counsel and Carl Ritchie, Associate. They were supported by Gianluca Pecora, Graduate.
For more information please contact:
Emily Forbes | Senior Marketing & Business Development Manager, Australia
emily.forbes@twobirds.com | +61 413 502 253
Chris Clarke, Head of Corporate, Australia, says “We were delighted to act on this transformative transaction. This deal is a compelling example of how innovative payments infrastructure is reshaping the banking landscape and we look forward to seeing CBA unlock the full potential of the IPSI platform."
