GOVERNANCE

Morrow Sodali acquires majority stake in Global Proxy Solicitation

Morrow Sodali acquired a majority interest in Australian proxy and corporate governance firm Global Proxy Solicitation.

Details of the deal were not disclosed, said a spokeswoman.

Morrow Sodali, which provides governance and shareholder services, said in a news release Tuesday that GPS will become the Australian arm of its global business.

Maria Leftakis, GPS managing director, will become CEO Australia of Morrow Sodali.

The release added that Italian private equity and venture capital firm SIMEST (CDP Group) joined it in the transaction. Further details were not disclosed.

“Working with Australia's largest listed companies, GPS will strengthen our offering to new and prospective clients around the world” said Alvise Recchi, CEO of Morrow Sodali, in the release. "Global investors are becoming more outspoken and demanding. With our combined reach into the principal capital markets, Morrow Sodali is positioned to identify, understand and engage with these investors so that we can advise companies on the accelerating governance and shareholder demands they face.”