Ashurst has advised Interserve, the international support services and construction group, on its proposed £250 million Class 1 acquisition of Initial Facilities, a facilities service business and subsidiary of Rentokil Initial Plc.
The proposed acquisition will be funded through a new bank facility, together with the net proceeds of a placing of up to 12,897,771 new ordinary shares, representing up to 9.99 per cent of Interserve's existing issued ordinary share capital.
Corporate partner Jonathan Earle commented:
"This is an exciting opportunity for Interserve as the acquisition has the potential to help the business become one of the UK's largest providers of facilities services across the public and private sectors. Assisting a client such as Interserve, who we act for across practice areas and jurisdictions, in achieving their strategic goals is always particularly satisfying for the firm and the team involved."
The Ashurst London Corporate team comprised: Jonathan Earle (partner); Caroline Chambers (counsel); Alex Verzariu (senior associate); Claire Broom (associate); Lucinda Cridland (solicitor) and Sarah Leiper (solicitor). The London Energy, Real Estate, Resources and Infrastructure team comprised: Jan Sanders (partner) and Rachael Chapple (associate). The London Tax team included: Richard Palmer (partner) and Tim Gummer (associate). The London Finance team comprised: Nigel Ward (partner), Katherine Vass (associate). The London Employment, Incentives and Pensions team included: Marcus Fink (partner); Ruth Buchanan (senior associate); Sarah Hutter (solicitor) and Dominic Boon (solicitor). The London Competition team comprised: Nigel Parr (partner) and Steven Vaz (associate).
The Ashurst Corporate Competition and Tax team in Spain comprised: María José Menéndez (partner); Javier Hernández Galante (partner); Marta Soto-Yárritu (associate); Tannia Rodríguez (associate). The Spain Energy, Real Estate, Resources and Infrastructure team included: Joaquín Macías (associate); Begoña de la Riva (associate). Spain's Disputes, IP and Employment team comprised: Cristina Grande (associate) and Isabel Matute (associate).
