Global law firm Ashurst is advising Citigroup Global Markets Limited on the £563 million recommended cash acquisition of Arrow Global Group plc, announced today by Sherwood Acquisitions Limited (a newly formed company owned by investment funds managed by TDR Capital LLP).
Arrow Global is a leading European investor and asset manager in non-performing and non-core assets, with operations in the UK, Italy, Portugal, Ireland, the Netherlands and Belgium. Founded in the UK in 2005, Arrow Global operates market-leading investment and servicing brands which provide investment opportunities for institutional funds and deleveraging solutions for banks. Arrow Global's shares were first admitted to listing and trading on the London Stock Exchange in 2013.
The acquisition will be funded by equity to be invested by funds managed by TDR Capital LLP and it is intended the acquisition will be implemented by way of a court-sanctioned scheme of arrangement.
Citigroup is acting as financial adviser to Sherwood Acquisitions Limited in connection with the acquisition.
The Ashurst team is being led by corporate partner Karen Davies, assisted by associates Demi Pham and Colin Bugler. Global markets partner James Coiley is also advising on the transaction.
