Ogier in Jersey has advised Cazenove Capital Holdings Limited on its £424 million recommended takeover by Schroders plc. The acquisition, which was subject to the rules of the UK Takeover Code, was announced on Monday, 25 March 2013 and was completed using a Jersey scheme of arrangement. Final Royal Court approval for the scheme was obtained on 1 July 2013 and the transaction became effective on 2 July.
Cazenove Capital is an investment business specialising in investment funds and wealth management and has a subsidiary office in Jersey servicing international, local and UK non domiciled clients. Cazenove has £17 billion of assets under management. Its acquisition by Schroders brings Schroders' total assets under management to around £250 billion, adding £5.1 billion to its funds business and creating a private banking business worth approximately £30 billion.
Raulin Amy commented "We have been working with Cazenove since 2004 assisting with the structuring for their investment, banking and investment management businesses. It is great to be involved in deals with a local element to them and I am sure Schroders will give the Jersey business a strong platform for future growth."
The Ogier team was led by Raulin Amy (Partner) and Sara Johns (Managing Associate) together with Sean Inggs (Senior Associate) on the corporate side. Oliver Passmore (Senior Associate) led on the representation before the Royal Court and was supported by Emilita Robbins (Managing Associate).
Herbert Smith Freehills advised Cazenove Capital on English law.