Ince & Co is advising PVM Oil Associates (PVM), a leading independent broker of oil instruments on its corporate sale to Tullett Prebon plc, a leading inter-dealer broker and London Stock Exchange listed company.

Tullett Prebon announced that it reached an agreement to acquire PVM and its subsidiaries for a consideration of US$160.0 million (£94.4 million) on May 9, 2014.

PVM is being sold by its management and certain employees. The senior management of PVM will remain with Tullett Prebon after the acquisition is completed, which is subject to regulatory approval and certain other conditions, and is expected to complete in the second half of 2014. The sale is expected to boost Tullett Prebon’s crude oil and petroleum broking operations.

PVM’s business is focused entirely on Energy products, and has a long history as an international crude oil and products broker. Its customers include oil companies, independent refiners and producers, banks and investment funds.

Stephen Jarvis (pictured above) who is leading the team at Ince, said: “We are delighted to have advised PVM on its proposed sale to Tullett Prebon. This is an exciting transaction for the energy sector, and we look forward to assisting PVM all the way through the sale process and to a successful completion.”

The Ince team included corporate partners Stephen Jarvis and Richard Britain, as well as senior associates Mona Patel, Matthew Stratton, James Gilbertson and solicitor Richard Hyman.