Slaughter and May is advising Chime Communications plc (Chime), the international communications and sports marketing group, on the proposed acquisition of Just Marketing, Inc. (JMI), a global marketing firm focused on motorsports, for a maximum consideration of US$70.6 million and related placing to raise gross proceeds of £25.6 million.

The acquisition, which was announced on 25 October 2013, will be funded by the proceeds of the placing, the issue of consideration shares in Chime, and an existing debt facility.

The new ordinary shares in the placing represent 9.9% of Chime’s existing issued ordinary share capital. HSBC Bank plc and Numis Securities Limited acted as joint bookrunners in connection with the placing.

The acquisition is subject to shareholder approval and is expected to complete by the end of November 2013.

Faegre Baker Daniels LLP are also advising as to United States law and Mourant Ozannes are advising as to Jersey law.

CONTACTS

Corporate and Commercial: Nigel Boardman (partner), Andrew Jolly (partner), Stuart Whitty (associate), John O’Grady (associate), Nadia Manzoor (associate), Elizabeth Frost (associate), Harriet Gallagher-Powell (associate); Tax: Sara Luder (partner), Gregory Price (associate)