Close Brothers - Sale of its interest in Mako Global Derivatives Executive

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Slaughter and May is advising Close Brothers Group plc ('Close Brothers') on the sale of its 49.9 per cent interest in Mako Global Derivatives Executive, LLP ('Mako') to the Mako executive directors and staff.

The sale, which was announced on 16 September 2011, is for an estimated consideration of US$40 million in cash and will be effected via a series of purchases over several years. It is expected that the initial sale of 16.6 per cent of Mako will close in the next few months.

Mako is a market maker in exchange traded derivatives and the sale is consistent with Close Brothers' focus on developing its core business.

Mergers and Acquisitions: Roland Turnill (partner), Stuart Whitty (associate); Tax: Mike Lane (partner), Owen Williams (associate)