Leading offshore law firm Appleby acted as lead counsel to TISE listed PraxisIFM Group Limited (PraxisIFM) on the sale of its funds business to LSE listed Sanne Group plc which completed on 3 December 2021.
Appleby's Jersey team led the multijurisdictional team across Jersey, Guernsey, Malta, Luxembourg and the UK. The sale was an all-cash deal for a total value of GBP 54,000,000.
The Appleby Jersey team was led by Appleby partner Andrew Weaver and assisted by counsel Kevin McQuillan, Group Partner Christophe Kalinauckas and trainee Angharad Prescott, Partners Stuart Tyler, Richard Sheldon and Richard Field advised in Guernsey.
Commenting on the transaction, Jersey Corporate Practice Group Head Andrew Weaver commented: "We have been working with PraxisIFM for quite some time and it has been a joy to support the PraxisIFM team on this latest hugely significant transaction for the group. We look forward to partnering with PraxisIFM in the next stages of their journey. I am very pleased with the efforts of our team on this transaction and specifically how we have been able to seamlessly adapt to the role of deal counsel on a multijurisdictional high value mandate."
Robert Fearis, Chief Executive Officer of Praxis, noted:
"This was an extremely important transaction for PraxisIFM and marks the beginning of a very exciting new chapter for the Group. We have been impressed with the skill, dedication and application of the Appleby team in assisting us with the transaction. We look forward to continuing to work with the Appleby team in the years to come."
Appleby's Merger and Acquisitions (M&A) team is well-positioned to swiftly advise clients on a wide range of M&A activities in the offshore region. Its unique jurisdictional reach means that Appleby is able to advise clients on complex, cross-border transactions involving the offshore jurisdictions that are most often encountered. The team regularly work with FTSE 100 and Fortune 500 companies around the globe and those with financial interests in them, to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.