Further Global Capital Management, L.P.’s $138 Million Acquisition of GBGI Limited


Dechert and Mourant advised on the deal

GBG is a leading provider of international benefits insurance, operating globally across 120 jurisdictions. Trading principally as GBG Insurance Group, GBG is a fully integrated insurance group providing services from policy sales to claim administration.

The takeover of GBG was undertaken by way of a Guernsey scheme of arrangement and was sanctioned by the Royal Court in Guernsey on Wednesday 20 February 2019. The aim of the takeover was to return GBG to private ownership thereby enabling enhanced financial and operational flexibility, together with savings relating to the costs which come from being a public company.

The recommended cash offer of US$1.151 per share (valuing GBG at US$131.8 million) represented a premium of approximately 39.2% on the company’s closing price of 84.50p on the last business day before the commencement of the offer period.

Dechert advised Further Global Capital Management, L.P. in London and New York.

Mourant advised Further Global Capital Management, L.P. with a team including Guernsey Partners John Rochester (Picture), Abel Lyall, Counsel Alex Davies and Associate Peter Callus.

Involved fees earner: Peter Callus – Mourant Ozanne; Alex Davies – Mourant Ozanne; Abel Lyall – Mourant Ozanne; John Rochester – Mourant Ozanne;

Law Firms: Mourant Ozanne;

Clients: Further Global Capital Management, L.P.;