Slaughter May is advising global financial service specialists Corsair Capital and Centerbridge Partners, L.P. on aspects of a £600 million pre Initial Public Offering (IPO) investment into the Williams & Glyn's business which centres around 314 bank branches in the UK. The Williams & Glyn's business is wholly owned by The Royal Bank of Scotland Group plc (RBSG) and RBSG committed to divest this business in connection with the European Commission's State aid approval on RBSG's restructuring. The pre-IPO investment will grant Centerbridge and Corsair joint control of Williams & Glyn's.

This acquisition of joint control was unconditionally approved by the European Commission under the EU Merger Regulation on 09 December 2013.

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Competition: Michael Rowe (partner), William Turtle (associate), Rhiannon Pugh (associate)