Slaughter and May is advising Non-Standard Finance - proposed acquisition of Loansathome4u
Slaughter and May is advising Non-Standard Finance plc (NSF) in connection with its proposed acquisition of Loansathome4u, the home credit division of S&U plc, for cash consideration of £82.5 million. The acquisition is subject to approval by S&U plc's shareholders and customary closing conditions. If completed, the acquisition will be NSF's first acquisition since it listed on the London Stock Exchange in February 2015 with the aim of acquiring and operating one or more non-standard consumer finance businesses.
The acquisition will be classified as a reverse takeover and, in accordance with the UK Listing Rules, NSF will seek the readmission of its shares to a standard listing on the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange following closing of the acquisition.