Mourant advises on sale of Nerine International Holdings Limited to PraxisIFM Group Limited
27 June 2018
Mourant Ozannes has advised the shareholders of Nerine International Holdings Limited on the sale of the Nerine group of companies to PraxisIFM Group Limited.
The leading offshore firm's Corporate team in Guernsey advised the sellers on all Guernsey elements of the transaction including corporate, regulatory and competition.
Mourant Ozannes Guernsey Corporate Partner, John Lewis, said: "This transaction further demonstrates the high level of acquisition and consolidation activity we are continuing to see in the fiduciary and financial sectors in Guernsey. Nerine is a long-standing client of Mourant, and we are pleased to have supported the shareholders in this transaction, which we believe will bring a wealth of new opportunities for the newly combined businesses."
Nerine Chief Executive, Keith Corbin, commented: "We believe that being part of a larger and more diverse group such as PraxisIFM will benefit our clients and our people, while allowing us to retain our much-valued independence. PraxisIFM has the same approach to its business which was a key factor in our decision to join the group. We are really excited about the potential of this new venture."
The Mourant team was led by Partner, John Lewis and Associate, Alana Nisbet. The deal was finalised on 27 June and is subject to regulatory approval.
Nerine is a trust and corporate services provider which was established in 1997 and now employs approximately 90 people, with offices in Guernsey, Hong Kong, the British Virgin Islands, Switzerland and India.
PraxisIFM is one of the largest independent financial services groups headquartered in the Channel Islands and was listed on The International Stock Exchange in April 2017. Following the acquisition it employs around 520 staff across 15 jurisdictions.