Travers Smith LLP has advised longstanding client ZPG plc on its up to £140 million acquisition of financial services price comparison business Money, the operator of the money.co.uk website.
ZPG owns and operates some of the UK’s most well-known property and household-related digital brands including Zoopla, uSwitch, PrimeLocation and Hometrack.
The acquisition of Money is part of ZPG’s strategy to offer the widest range of relevant products across its platforms, with both businesses focused on empowering consumers to make better-informed property and home-related decisions.
Completion of the acquisition is conditional upon FCA approval to the change of control of Money.
The Travers Smith team was jointly led by Corporate Finance Partners Phil Cheveley and Richard Spedding, with support from Senior Corporate Associate Andrew Gofton-Salmond and Corporate Associate Morgan Wood. Specialist tax advice was provided by Tax Partner Kathleen Russ with support from Senior Tax Associate Maddy Gowlett. Commercial advice was provided by Commercial, IP and Technology Partner Louisa Chambers with support from Commercial Associate Alex Edmiston.
Travers Smith has advised ZPG on a number of recent deals including the £120m acquisition of Hometrack in January 2017, the acquisition of Expert Agent in February 2017, the £75m acquisition of Property Software Group in April 2016, and the £160m acquisition of price comparison website uSwitch in 2015.