DLA Piper has advised Washington H. Soul Pattinson and Company Limited (ASX: SOL) (WHSP) on their asset sale agreement for the sale of a portfolio of securities to Acorn Capital Investment Fund Limited (ASX: ACQ) (Acorn Capital).

Acorn Capital will acquire a portfolio of seven assets from WHSP, consisting of six unlisted and one ASX-listed assets, for approximately AU$7.6m.

The purchase price is proposed to be funded by the issue of ordinary shares in Acorn Capital, representing the largest shareholding in the fund.

The DLA Piper team was led by Sydney Corporate partner David Ryan, with senior associate Rosa Sayer.

David Ryan said: "We are pleased to once again partner with our client Washington H. Soul Pattinson and Company on this transaction, which will see them become the largest shareholder in Acorn Capital Investment Fund."

Acorn Capital is a specialist small and microcap investment manager, offering exposure to listed and unlisted emerging companies or 'microcaps', providing diversification benefits to investors who may otherwise find it difficult to access to those companies.

Washington H. Soul Pattinson is Australia’s second oldest publicly listed company, having listed on the Sydney Stock Exchange (now ASX) in 1902. As at 30 November 2017, the company holds a diversified investment portfolio totalling approximately AU$5 billion.
WHSP has a significant investment portfolio spanning a range of industries, including its traditional field of pharmaceuticals, as well as financial services, natural resources, building products and real estate.