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The UK has recently indicated that, unless there is a "fundamental change in approach" from the EU, it is prepared to exit the transition period without a trade deal. In this briefing, we highlight the key areas where "no deal" is likely to make a difference.
Travers Smith LLP has advised social enterprise Social and Sustainable Capital (SASC) on its acquisition of Leapfrog Bridge Finance (LBF) from low carbon innovator, Pure Leapfrog, and on amendments to its banking facilities.
The Department of Work and Pensions (DWP) recently consulted on the introduction of new duties that will require pension scheme trustees to have in place effective governance, strategy, risk management and accompanying metrics and targets to assess and manage climate risks and opportunities in their schemes.
Following the publication of its 2020 Stewardship Code (which took effect from 1 January 2020), at the end of September the FRC released its review of the early reporting which has taken place under the new Code. While the FRC notes that some firms have made 'good attempts' at early reporting, it says there is more to be done to ensure that investors meet the high standard of reporting on stewardship activities undertaken and outcomes achieved, rather than just stating intent or policy.
The EU passed a Regulation on Conflict Minerals ("the Regulation") back in 2017 and its requirements will finally begin to apply to importers of covered minerals as of 1 January 2021. Conflict minerals – usually "the 3Ts" (tantalum, tin, and tungsten) and gold ("3TG") are crucial in the components of many consumer electronic products and have applications in aerospace, automotive, medical and other sectors.
Travers Smith LLP has advised digital mortgage lender Molo on a forward flow arrangement as part of its £266 million debt and equity fundraising. The investment was led by Macquarie Group and Patron Capital, a pan-European institutional investor focused on property-backed investments, while the equity round was led by Yabeo, an international venture capital firm.
This briefing was updated on 7 January 2021 to reflect the UK-EU trade deal.
Parties to free trade agreements (FTAs) typically recognise that movement of people is necessary to facilitate trade, particularly for services businesses. However, they are often reluctant to dispense with requirements imposed by their own domestic immigration regimes.
Financial sponsors are increasingly looking to carve-outs as a way to deploy capital outside highly competitive auction processes. Carve-outs also provide opportunities to unlock hidden value from an underperforming, undervalued or unloved business unit.
Following a consultation undertaken by the US Treasury Department, a new rule will come in to force on 15 October 2020 altering the current mandatory Committee on Foreign Investment in the United States ("CFIUS") filing requirements. The amendment relates specifically to foreign direct investments ("FDI") into US businesses with a 'critical technology' focus.
Travers Smith LLP has advised long-standing client Adventurous Journeys Capital Partners (AJ Capital) on its acquisition of The Marine Hotel in Troon, Scotland from the previous owners, Cannock Group and Stellar Asset Management. The iconic hotel positioned along the Ayrshire Coast will be the third Scottish golf property acquired by AJ Capital.
Travers Smith LLP has advised long-standing client Elysian Capital LLP on the fundraising of its third vintage fund Elysian Capital III LP.
Recent competition for prime assets has led sponsors to seek creative ways to deploy their capital. Increasingly, we are seeing sponsors adopt a buy and build strategy to accelerate growth and generate high returns for investors.
In this decision, the High Court confirmed the test for legal advice privilege as it applies to foreign lawyers.
In this article Natalie Scoones, George Weavil and Jessica Kemp discuss why a debt for equity swap is likely to play a role in many restructurings that result from the downturn triggered by the COVID-19 pandemic. They explain how such transactions are structured, the likely motivations of key stakeholders and the tax and regulatory implications of such transactions.
Welcome to the second edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution sphere over the last three months.
Travers Smith LLP has acted for Numis and Goodbody (in their capacities as joint corporate brokers, joint global co-ordinators and joint bookrunners) and Berenberg (in its capacity as joint bookrunner) on the English law aspects of a £110 million placing by Draper Esprit plc by way of an accelerated bookbuild.
Our regular round-up of recent developments and topics for your radar, news on training and networking events for in-house counsel, and an update on our legal tech initiatives.
Travers Smith LLP has acted for RBC Capital Markets and Jefferies International Limited in their capacity as joint bookrunners in a placing of £400 million of Ordinary Shares in Greencoat UK Wind PLC (the "Fund").