Travers Smith LLP has advised longstanding client ETF Securities Limited on both the $611 million sale of its European exchange-traded commodity, currency and short-and-leveraged business to WisdomTree Investments, Inc., and the sale of its Canvas, UCITS ETF platform, to Legal & General Investment Management (LGIM).
ETF Securities is a leading innovator of Exchange-Traded Products (ETPs) and provides specialist investment solutions to investors around the world.
The acquisition will secure WisdomTree’s spot as the ninth largest ETP sponsor globally and elevate the company to the largest global independent ETP provider with significant scale and presence in Europe and the US.
The acquisition by LGIM provides clients with access to one of the fastest growing segments in asset management, broadening LGIM’s geographical reach and product range.
The Travers Smith team was led by Head of Corporate Finance Neal Watson, with support from Corporate Associates Edward Ainscoe and Stephanie Poulier. Specialist Commercial, IP and Technology advice was provided by Head of Commercial Tom Purton, Commercial Senior Associate Sonny Mallet, Commercial Associates Hannah Duke and Elise Jones. Specialist competition law advice was provided by Competition Partner Stephen Whitfield, Competition Associate Claire Shepherd. Specialist employment advice was provided by Employment Partner Siân Keall, Employment Senior Associate Adam Wyman and Associate Sarah Baker. Specialist tax advice was provided by Tax Partner Simon Yates and Tax Senior Associate Silvana Van der Velde.
WisdomTree Investments, Inc. were represented by Goodwin Procter LLP. ETF Securities was also advised by White & Case on US law and Mourant Ozannes on Jersey law.
Legal & General Investment Management were represented by Eversheds Sutherland. William Fry advised ETF Securities on Irish law.