Ashurst is advising Credit Suisse International in relation to the £1.1 billion recommended cash offer for Aldermore Group plc by FirstRand International Limited. 

FirstRand International is an indirect wholly owned subsidiary of FirstRand Limited, which is South Africa’s largest financial services institution by market capitalisation (£15.7 billion). Aldermore is a UK based bank providing award-winning asset finance, invoice finance, mortgage and deposit products to small and medium-sized enterprises, homeowners, landlords and savers. Founded in 2009 with the support of AnaCap Financial Partners, LLP, Aldermore is listed on the Main Market of the London Stock Exchange, is a constituent of the FTSE 250 leading share index and has total assets of £9.6bn.

Credit Suisse is acting as financial adviser to FirstRand in relation to the offer.

The Ashurst team is being led by banking partner Tim Rennie and corporate partner Karen Davies, assisted by solicitor Jake Hadfield.

Tim Rennie commented: "We are delighted to have acted on this transaction for Credit Suisse as financial adviser. This follows on from recent deals that Ashurst has assisted Credit Suisse on, also in the financial services sector, including Blackstone and CVC's joint offer for Paysafe and Vantiv's offer for WorldPay (where we also represented Morgan Stanley)."