Travers Smith LLP has acted for Investec Bank plc in its capacity as sponsor, financial adviser, bookrunner and broker on the £94 million placing and open offer of new ordinary shares issued by Sanne Group plc.

Sanne is a specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services.  The proceeds of the placing are to be primarily utilised by Sanne to fund the Class 1 acquisition of the IFS Group, a Mauritius-based fund administration business.

The acquisition is conditional on, inter alia, the passing of shareholder resolutions at a general meeting of Sanne, as well as obtaining regulatory clearance from the Mauritius Financial Services Commission.

Corporate partners Richard Spedding and Dan McNamee led the Travers Smith team.