A Travers Smith team lead by senior partner Chris Hale and private equity partner James Renahan has advised management on the agreement for sale of online payment services firm Skrill Group (formerly known as Moneybookers) to CVC Capital Partners for €600 million, which is subject to regulatory approvals.

As part of the agreement, Investcorp will keep a minority shareholding in Skrill, as well as retain a seat on the London-based firm's board.

Founded in 2001, Skrill is available in 200 countries and territories, offering 100 local payment options and 40 currencies.

The Travers Smith team also included lead corporate associate Matthew Kichenside, tax partner Mahesh Varia and tax associate Robin Hartley.