Ashurst is advising Stafford Capital on its potential hostile takeover of Phaunos Timber Fund Limited, the possible terms of which were announced today. Under the terms of the possible offer, Phaunos shareholders would be entitled to receive US$0.49 per Phaunos share, which implies a total equity value for Phaunos of approximately US$244.2 million (on a fully diluted basis).

Under UK takeover rules, Stafford Capital has until 5.00 p.m. on 3 July 2018 to announce a firm intention to make an offer for Phaunos.

Stafford Capital has US$5.4 billion under management and advice from over 75 institutional investors across Europe, the United States and Australia, providing investment management and advisory services in alternative assets. Founded in 2000, Stafford Capital has specialist investment teams in agriculture, credit, infrastructure, private equity, sustainable capital, timber and venture capital.

The Ashurst team is being led by corporate partner Karen Davies assisted by associate Harry Thimont and solicitor Demi Pham.