Slaughter and May advised FNZ on the sale of GBST to Anchorage Capital Partners

Slaughter and May advised FNZ, a leading global wealth management platform, on the sale of financial technology provider GBST to Anchorage Capital Partners, a leading global private equity fund with extensive financial services and systems experience (the “Transaction”).

Following the Transaction, FNZ will reacquire assets of GBST’s capital markets division including the experienced GBST capital markets team and the market leading Syn~ product suit (the “Re-acquisition”). The Transaction and subsequent Re-acquisition will provide FNZ with the opportunity to expand its product and service offering to both existing and future clients and accelerate the growth and reach of its global capabilities in listed securities trading and post-trade processing.

The Transaction follows the UK Competition and Markets Authority (the “CMA”) review of FNZ’s completed acquisition of GBST and FNZ’s subsequent appeal, which led the CMA to ask the Competition Appeal Tribunal to quash its original decision and remit the case to the CMA for reconsideration. Slaughter and May advised FNZ on the initial CMA Phase 2 review, FNZ’s subsequent appeal, and the CMA remittal inquiry. In a significant departure from its original decision, the CMA concluded following its reinvestigation that FNZ should be able to carry out the Re-acquisition.

The Transaction completed on 22 December 2021, and the Re-acquisition is expected to complete in Q1 2022.

Corporate
Jonathan Marks Partner
Rebecca Cousin Partner
Nick Pacheco Partner
Simon Tysoe Associate
Andrew Finogin Associate
Jessica Stewart Associate
Harry Gilbertson Associate
Jessica Ward Associate

Anna Diakou / Trainee, Steph McAnally / Trainee, Harry Williams / Trainee

Competition
William Turtle Partner
Jessica Staples Senior Counsel
Robert Walmsley Associate
Hilary Wham Associate
Ferenc Jári Associate
Kadambari Chinoy Associate
Maija Busha Associate
Gareth Goh Associate
Madalina Secareanu Associate
IP/IT
Duncan Blaikie Partner
Matthew Harman Associate
David Cakebread Associate
Issabella Cardu Associate
Tax
Gareth Miles Partner
Alex Sim Associate
Tristan Goodman Associate
Pensions, Employment and Incentives
Phil Linnard Partner
David Rintoul Associate
Ellie Wilson Associate
Jennifer Allan Associate
Real Estate
Jane Edwarde Partner
Kate Shirlaw Associate

Emily AlHamarneh / Trainee