Slaughter and May advised Chime Communications PLC ('Chime') on its acquisition of SJX Partners. SJX Partners is a sports and entertainment marketing business based in Connecticut, United States that represents a range of key sports and entertainment businesses including US Tennis Association, Cirque du Soleil and Little League Baseball.

Under the terms of the transaction, which was announced on 27 October 2014, Chime will pay SJX Partners initial consideration of US$8.5 million and deferred consideration of up to US$19.5 million (depending upon future performance of the business).

Chime will pay 70% of this consideration in cash, and the remaining 30% will be satisfied through the issue of new Chime ordinary shares which will be premium listed on the London Stock Exchange.

CONTACTS

Nigel Boardman (partner), John O'Grady (associate)