Henderson Group - Acquisition of Gartmore Group

  • 04 Apr 2011
 

Slaughter and May advised Henderson Group PLC ('Henderson') on the terms of the recommended share acquisition of Gartmore Group Limited ('Gartmore'). The all share offer valued Gartmore at approximately £335 million.

The acquisition further strengthened Henderson’s presence in the UK funds management industry and created one of Britain’s largest retail asset managers with £78 billion under management.

The acquisition was announced and completed on 04 April 2011 and was implemented by means of a scheme of arrangement between Gartmore and its shareholders under section 86 of the Cayman Companies Law.

Following completion, Gartmore's shareholders held approximately 22.5 per cent. of the enlarged share capital of Henderson.

Slaughter and May also advised Henderson on a new multicurrency term and revolving loan facilities which may be utilised by Henderson to meet the combined group’s debt obligations and for general corporate and working capital purposes.

Henderson is listed on the London Stock Exchange and Australian Securities Exchange and Gartmore was listed on the London Stock Exchange.

 
 

Contacts

 

Nilufer von Bismarck (partner), Frances Murphy (partner), Sarah Ullathorne (associate), Georgie Fast (associate); Financing: Matthew Tobin (partner), Alexander Biles (associate); Pensions: Eddie Codrington (partner); Tax: William Watson (partner), John Meehan (associate); Competition: Bertrand Louveaux (partner), Annalisa Tosdevin (associate)

 
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