Banks & Building Societies

Banking and Specialty Finance Open
Banking and Specialty Finance Open
Client Description Counterparty
Advised Cabot Square Capital on the sale of LDF to White Oak Global Advisors.
Advised LDC on the buyback of its stake in Bluestone by the company.
Advised London and Country Mortgages on the sale of a 25% stake in the business to Experian.
Advised Natixis on a strategic partnership with ODDO-BHF in equity brokerage and equity capital markets
Advised Computershare on the acquisition of UKAR's mortgage servicing platform and associated long-term contracts.
Advised Investec on the sale of Kensington to Blackstone and TPG.
Investment banking adviser to the independent valuer.
Advised Norwich & Peterborough Building Society on its merger with the Yorkshire Building Society.
Advised the Kyte Group on the sale of a majority stake to GFI Group.
Advised Yorkshire Building Society on its merger with the Chelsea Building Society.
Advised Barclays on its acquisition of Standard Life Bank.
Advised the partners of Drydens, a debt litigation law firm, on the sale of the firm to a private buyer.
Advised Nomura on its acquisition of the Europe and Middle East Equity and Investment Banking Operations of Lehmans.
Advised Yorkshire Building Society on its merger with Barnsley Building Society.
Advised Barclays PLC on its proposed merger with ABN AMRO.
Advised Egg on its acquisition of a minority stake by Prudential plc.
Advised London Stock Exchange on the successful defence against an unsolicited offer from NASDAQ.
Advised Julian Hodge Bank on the sale of Carlyle Finance and Julian Hodge Business Finance to Wesbank
Advised Yorkshire Building Society on its acquisition of Abbey National’s Sharesave Scheme.
Advised Alliance & Leicester plc on an unsolicited takeover approach from Crédit Agricole
Advised London Stock Exchange on the successful defence against an unsolicited offer from Macquarie.
Advised Barclays PLC on its acquisition of a majority stake in ABSA
Advised Standard Chartered on its acquisition of Korea First Bank
Advised London Stock Exchange on the successful defence against unsolicited offers from Deutsche Borse and Euronext.
Advised Xchanging on its acquisition of RebusIS
Advised Barclays on its acquisition of Banco Zaragozano
Advised BWD Securities on the sale of its Administration Services Division.
Advised Bank of Scotland on its merger with Halifax plc
Advised Cazenove on its incorporation.
Advised Sampo on its acquisition of Mandatum Bank
Advised Lloyds TSB on its offer for Abbey National
Advised Barclays PLC on its acquisition of Woolwich plc
Advised MG Group plc on its acquisition by Enron.
Advised Stadshypotek on its sale to Svenska Handelsbanken
Advised NatWest on its takeover by Royal Bank of Scotland
Advised Yorkshire Building Society on its sale of YorkSHARE to TD Waterhouse.
Advised Hambros on the sale of its investment bank to Société Générale.
Advised The Abbey National Group on its acquisition of National & Provincial Building Society
Advised SG Warburg Group Plc on the sale of its investment bank to Swiss Bank Corporation.
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Advised Cabot Square Capital on the sale of LDF to White Oak Global Advisors.

Counterparties

Fenchurch is pleased to have advised Cabot Square Capital on the sale of LDF to White Oak Global Advisors.

LDF is one of the largest independent finance providers for SMEs in the UK, catering to over 10,000 clients across a diversified set of industries.

Richard McDougall, Partner at Cabot Square Capital, commented: “Fenchurch fielded an experienced, highly committed and knowledgeable team with a good understanding of the industry and market participants. They provided high quality advice throughout the process and took a thoughtful approach to positioning the LDF business and the structure of the sale process, which resulted in a great outcome for the business and its shareholders.”

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Advised Computershare on the acquisition of UKAR's mortgage servicing platform and associated long-term contracts.

Counterparty

Fenchurch is pleased to have advised Computershare on its acquisition of UKAR’s mortgage servicing platform. The transaction also involves Computershare being appointed on a seven-year contract to service UKAR’s £30bn of mortgages. In addition, Computershare has entered into separate long-term contracts for the servicing of £11bn of assets purchased by Cerberus from UKAR in November 2015.

Founded in 1978 and listed on the Australian Securities Exchange since 1994, Computershare is a specialist provider of outsourced financial and governance services across 22 countries on five continents. It employs more than 15,000 people worldwide and has a market capitalisation of AU$5.5bn.

Naz Sarkar, CEO of Computershare UCIA, commented: “We were delighted to have Fenchurch acting for us on this highly strategic transaction. They provided a very wellresourced team that ably supported us throughout a long and complicated process with deep knowledge of the business, detailed analysis and thoughtful advice.”

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Advised Investec on the sale of Kensington to Blackstone and TPG.

Counterparties

Fenchurch is pleased to have advised Investec on the sale of its intermediary mortgage lending business Kensington to Blackstone and TPG for £180m.

Kensington had £3.7bn gross assets and £165m tangible net assets as at 31 March 2014. Investec’s £1.4bn funding line to Kensington is to be repaid entirely at completion.

The sale forms part of Investec's strategy to simplify and reshape its specialist banking business and substantially reduces the assets within its legacy non-core business. The sale proceeds will be deployed in Investec’s UK specialist banking operations.

Bernard Kantor, Managing Director, Investec, commented: “Fenchurch demonstrated outstanding execution skills and provided clear advice to help us deliver this complex transaction from a value and funding perspective. We were particularly impressed with the commitment of the senior team who were intimately involved throughout the process.”

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Note – includes transactions advised on by Fenchurch team members at predecessor firms