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    Eversheds Sutherland advises Charter Court Financial Services’ management team on £1.6bn merger

    Eversheds Sutherland has advised the management team of longstanding client Charter Court Financial Services (Charter Court), on its £1.6 billion merger with OneSavings Bank.

    Charter Court is one of the UK’s leading specialist mortgage lenders. Both companies offer mortgage and saving services.

    Under the deal, announced today (14 March, 2019), OneSavings Bank has agreed to pay 0.8253 new shares for each Charter Court share, giving it a 55% stake in the combined company.

    Partners Danny Blum, London head of incentives at Eversheds Sutherland and Paul Fontes London head of employment at the global legal practice, advised the management team.

    Eversheds Sutherland also advised Charter Court in 2017 on its initial public offering (IPO).

    Danny Blum commented:

    “We were delighted to advise the management team of Charter Court on this strategic transaction and it was a pleasure to lead a talented team of expert lawyers to deliver a successful outcome for our client.”

    Ian Lonergan, CEO of Charter Court Financial Services commented:                                   

    “Eversheds Sutherland has become a trusted legal adviser and has supported us on a number of significant transactions as our business has continued to grow and develop, including on our IPO in 2017. The level of specialist technical excellence the team is able to draw upon and apply to complex transactions such as this has been invaluable.

    “Danny Blum was our first choice to represent the management team and he pulled out all the stops to deliver a successful outcome in this fast moving and complex transaction bringing into account his wealth of experience in the employee incentives space combined with practical and, crucially, commercial advice. We are delighted.



    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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