BLP advises Family Trust on its sale of interests in Moneycorp
International law firm Berwin Leighton Paisner (BLP) has advised longstanding client the Shlewet Family Trust on the sale of its interests in Moneycorp to the RBS Special Opportunities Fund (“RBSSOF”), for an undisclosed consideration. Moneycorp is a long-established provider of retail, wholesale and commercial foreign exchange services.
BLP advised the Shlewet Family Trust in 2006 when it sold just under 50 per cent of the Moneycorp Group to RBSSOF. The recent transaction involved the sale of its remaining interests.
Corporate finance partner Simon Pollock led the BLP team advising on this transaction, assisted by associate Liron Meister and trainee James Eggleton. Financial services partner Jacob Ghanty and senior associate Matthew Baker provided advice on the regulatory aspects of the transaction.
Commenting on the deal Simon Pollock said: “We have seen an increased trend in M&A activity for family offices and high net worth individuals as they seek to divest non-core interests or invest in new ventures. We are delighted to have advised our longstanding client the Shlewet Family Trust on the second deal of this nature after also advising them five years ago on a similar transaction”.
Macfarlanes (Stephen Drewitt) acted for RBSSOF.
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