Ogier's Guernsey Corporate team advises LEO on acquisition of VGW Holdings

Ogier's Corporate team in Guernsey has advised Lance East Office on the Guernsey law aspects of the acquisition of global technology company VGW Holdings by a newly established Guernsey holding company, supported by Ogier Global, by way of an Australian court-approved scheme of arrangement under the Australian Corporations Act.

Lance East Office (LEO) is the family office of VGW founder and CEO Laurance Escalante. VGW is an Australian public company headquartered in Perth, Australia, involved in the interactive entertainment industry, using technology to deliver free-to-play online social games.

LEO structured the deal through a new Guernsey holding company, formed and administered by Ogier's Corporate and Fiduciary services business, Ogier Global. Under the terms of the Australian law scheme of arrangement, existing VGW shareholders had the option to receive cash or scrip consideration (as shares in the new Guernsey holding company) for their VGW shares. The acquisition was funded by a combination of third-party acquisition finance and target-funding through a loan provided by VGW.
 
Ogier's Guernsey Corporate team acted as Guernsey legal counsel for LEO, assisting them with navigating Guernsey's legal and regulatory landscape, working closely alongside King & Wood Mallesons' Perth office, who acted as lead and Australian legal counsel, and Latham & Watkins in respect of the third party acquisition finance. Ashurst acted as Australian legal counsel for VGW. 
 
The Ogier team was led by partner Richard Sharp, assisted by managing associate Andrew Grant, counsel Michaela Jesson and associate Raphael Chitambira.
 
The Ogier Global team was led by managing director Thomas Barnes supported by director Lily Oliveira, senior administrator Joe Ozanne and trainee administrator Jack Rogers.

Richard Sharp said: "This deal demonstrates Guernsey's continued position as a domicile of choice for international holding companies. Working closely alongside our colleagues in Ogier Global, we were delighted to have been able to provide a complete service offering of legal advice and corporate services."