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Travers Smith LLP has advised the management team of Tes Global ("Tes") on the sale of Tes, a leading education technology services provider, from Providence Equity Partners L.L.C. to Onex Partners V.
Travers Smith LLP has advised its long-standing client Equistone Partners Europe Limited in relation to its investment in the adm group of companies.
In a consequential matters judgment handed down on 19 October 2021, the High Court ruled on the correct interpretation of the liability cap in the share sale agreement ("SSA") and the cost consequences of the Part 36 offer.
The Takeover Panel is consulting on Code changes to facilitate clearer information to shareholders upon which to make investment decisions, and to improve clarity on the workings of the Code, particularly in the area of mandatory offers.
Travers Smith LLP is delighted to announce it is collaborating with the UK legal sector to launch the Social Welfare Solicitors Qualification Fund (SWSQF) to tackle the deficit in junior social welfare solicitors. The new fund will make a lasting difference in the field of social welfare law.
In this article, we consider the recent decision in Building Design Partnership Limited v Standard Life Assurance Limited [2021] EWCA Civ 1793 in which the Court of Appeal considered whether the claimant could rely on extrapolation when pleading its case.
The first "Tax Day" back in March proved to be a fairly low key affair. This time around the government called the event "Tax Administration and Maintenance Day", and it lived up (or down) to its name, with lots of the materials focussing on improving the nuts and bolts of tax administration so as to take advantage of modern technology and reduce opportunities for non-compliance.
A regular briefing for the alternative asset management industry.
An analysis of FCA rule changes effective 3 December 2021 to try to attract more issuers, particularly high-growth and technology businesses, to undertake IPOs in the UK.
On Tuesday 30 November 2021, the government published a series of tax-related consultations and policy papers as part of 'tax administration and maintenance day'. Among these were a number of interesting consultations relating to real estate.
Travers Smith LLP has advised S4Capital plc on the merger between Maverick Digital and Media.Monks, expanding its Data&digital media practice and CRM capabilities.
The Business and Human Rights Resource Centre recently produced a report calling into question the quality and utility of the now ubiquitous social audit reporting (Social Audit Liability: Hard Law Strategies to Redress Weak Social Assurances) (the "Report").
Travers Smith LLP has acted for RBC Capital Markets and Jefferies International Limited in their capacity as Joint Global Co-ordinators and Joint Bookrunners in a placing, open offer, intermediaries offer and offer for subscription (the "Issue") of Ordinary Shares in Greencoat UK Wind PLC.
Travers Smith LLP has advised Marshall of Cambridge (Holdings) Limited ("Marshall of Cambridge") on its £201.6 million sale of approximately 66.4% of the issued share capital of AIM-listed Marshall Motor Holdings plc ("Marshall Motor Group") to CAG Vega 2 Limited, a subsidiary of Constellation Automotive Holdings Limited. The sale has been agreed under the £322.9 million takeover offer by CAG Vega 2 Limited.
On 26 November 2021 the Financial Conduct Authority (FCA) published PS21/17: Implementation of Investment Firms Prudential Regime.
This case concerned an application for committal relating to a failure to observe a freezing injunction. The High Court sentenced the defendant, ("Mr Lewis"), to five months' immediate imprisonment and refused to order a suspended sentence because of Mr Lewis' deliberate offending.
The regulatory technical standards supplementing the EU Sustainable Finance Disclosure Regulation (EU SFDR) have been delayed again by a further six months until 1 January 2023.
The government has enacted new tax regulations for the LTAF, the UK's new authorised open-ended fund vehicle. It is designed to facilitate investment in long-term, illiquid assets and has been generating a lot of interest from our clients.
The European Commission has proposed changes to the AIFMD, UCITS Directive and the ELTIF regime in its long-awaited overhaul of the EU funds regimes.
On 3 October 2021, the UK Competition & Markets Authority ('CMA') published its recommendation to the Secretary of State for Business, Energy and Industrial Strategy as to whether the existing Vertical Agreements Block Exemption Regulation ('VABER'), both in force in the EU and retained from EU law following Brexit, should be renewed or varied in the UK. The retained VABER will expire on 31 May 2022 so, without a renewal or variation, an automatic exemption regime for vertical agreements would cease to apply in the UK.