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Travers Smith advises on recommended cash offer for BLME Holdings plc

Overview

Travers Smith LLP has advised BLME Holdings plc on the $212 million recommended cash offer by Boubyan Bank.

BLME is an award-winning, Sharia’a compliant bank, providing real estate-focused wealth management solutions, commercial real estate finance and savings products. BLME is listed on the NASDAQ Dubai and the transaction is regulated by both the UK Takeover Code and the Dubai Takeover Module.

Travers Smith has advised BLME for a number of years, including on its listing on the NASDAQ Dubai in 2013.

The takeover will open up new geographic markets for BLME and provide access to its client base and products. Boubyan Bank's strength and external credit rating will also enable BLME to strengthen liquidity to support growth.

The Travers Smith team was led by Corporate M&A and ECM Partner Jon Reddington, with support from Senior Associate Charlotte Courtney and Associate Sophie Gayle-Farlow. The team also included Head of Incentives & Remuneration Mahesh Varia and Associate Sakhee Ganatra.

Jon Reddington commented: We have a wealth of experience advising the financial services sector and over the years have built up a deep understanding of the challenges and opportunities our clients in this sector face. We are pleased to have supported BLME to get to the next stage of its growth through this cash offer by Boubyan Bank. We are also delighted to have advised on yet another complex cross-border transaction that highlights our international capabilities."