Press releases | Corporate Advisory | 01 Dec 2016

Travers Smith advises on £94m placing and open offer by Sanne Group plc

Overview

Travers Smith LLP has acted for Investec Bank plc in its capacity as sponsor, financial adviser, bookrunner and broker on the £94 million placing and open offer of new ordinary shares issued by Sanne Group plc.

Sanne is a specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services.  The proceeds of the placing are to be primarily utilised by Sanne to fund the Class 1 acquisition of the IFS Group, a Mauritius-based fund administration business.

The acquisition is conditional on, inter alia, the passing of shareholder resolutions at a general meeting of Sanne, as well as obtaining regulatory clearance from the Mauritius Financial Services Commission.

Corporate partners Richard Spedding and Dan McNamee led the Travers Smith team.