Global law firm White & Case LLP has advised Mediobanca, Italy's leading investment bank, on its agreement to acquire a majority stake in Cairn Capital, the London-based independent, full service credit asset management, advisory and securities restructuring firm.
Mediobanca will acquire, on completion, 51 percent of the share capital in Cairn Capital from its institutional shareholder The Royal Bank of Scotland (which will have no remaining interest), Star Capital and Cairn Capital's management team. Mediobanca can increase its stake after three years via an option to buy some or all of the outstanding 49 percent, the majority of which is held by Cairn Capital's management and staff. At June 30, 2015, Cairn Capital had US$5.6 billion of discretionary and legacy assets under management, with a further US$9 billion of assets under long term advice.
The White & Case team which advised on the transaction was co-led by partners Michael Immordino (Milan & London) and Gavin Weir (London) and included partners Nicholas Greenacre and Stuart Willey (both London) with support from counsels Euan Fergusson and John Benjamin (both London) and associates Thomas Cambidge, Helen Levendi, Malcolm McLean, Susanne Leitterstorf, James Golunski, Joanne Turner, Daniella Ebrahimoff, Matteo Schirmer (all London) and Claudette Druehl (New York).
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