Taylor Wessing gets the Midas touch on IMO deal
Taylor Wessing has advised fund management and corporate finance group iimia MitonOptimal (IMO) on its £100m acquisition of fund management company Midas Capital Partners. The Taylor Wessing team was led by corporate finance partner Peter Kempe, financial institutions partner Tim Oldridge and financing partner Martin Yells. The trio advised IMO on the purchase and sale agreements and Alternative Investment Market (AIM) re-admission documentation, as well as on banking aspects of the deal.
February 27, 2008 at 09:34 PM
2 minute read
Taylor Wessing has advised fund management and corporate finance group iimia MitonOptimal (IMO) on its £100m acquisition of fund management company Midas Capital Partners.
The Taylor Wessing team was led by corporate finance partner Peter Kempe, financial institutions partner Tim Oldridge and financing partner Martin Yells. The trio advised IMO on the purchase and sale agreements and Alternative Investment Market (AIM)
re-admission documentation, as well as on banking aspects of the deal.
Oldridge told Legal Week: "We had a big team working on this. It allowed us to tie together the financial institutions team with the corporate teams."
IMO is a long-standing client of the firm, with Kempe advising the company since its incorporation. He has previously advised the company on transactions including its initial admission to AIM.
The latest deal, carried out through a reverse takeover, will see IMO acquiring Midas' entire issued share capital in exchange for new shares worth almost half of the enlarged share capital. Oldridge added: "This was a sexy and chunky deal as there was quite a substantial amount of financing."
Liverpool-based O'Connors advised Midas on the transaction with one of the firm's founding partners Mark O'Connor leading.
The deal is set to complete on 12 March at a shareholders' meeting with the company reportedly proposing to change its name to Midas Capital. The deal comes less than six months after iimia merged with MitonOptimal.
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