Mourant Ozannes has advised the shareholders of Nerine International Holdings Limited on the sale, Appleby advises PraxisIFM Group.
Nerine is an independent group providing fiduciary servicing to alternative investment funds and international business clients with management, domiciliation, administrative, corporate and fund service solutions. With this key strategic acquisition, Nerine will help PraxisIFM Group to add significantly to the Group’s capabilities in private client and corporate services upon completion. It will also add two additional jurisdictions to the group’s service offering, and take its total number of offices to 15 with more than 520 employees.
The total consideration, payable in cash and equity, comprises the initial consideration of £16,534,383 and deferred payments payable on the first and second anniversaries with a maximum value of £23,620,547.
The deal is subject to various regulatory approvals.
The Appleby team was led by Senior Associate James Walsh, with assistance from Paralegal James Dickinson and supervised by Group Partner Andrew Harding.
Mourant Ozannes has advised the shareholders of Nerine International Holdings Limited with a team including John Lewis (Picture) and Alana Nisbet.