International legal practice Osborne Clarke has advised Investec Bank plc on the disposal by housing solutions provider Mears Group plc of its Terraquest group to Apse Capital for a maximum consideration of £72 million announced on 6 November 2020.
The Terraquest Group provides a range of land and planning services to a wide range of customers, notably the National Planning Portal which provides planning and building control application services, processing some 90 percent of all planning applications in England and Wales.
The disposal constitutes a class 1 disposal for the purposes of the Listing Rules and, consequently, is subject to the approval by Mears’ shareholders at a general meeting scheduled for 25 November 2020.
Completion of the disposal is expected to occur in December 2020.
The Osborne Clarke team that advised on the transaction was led by Corporate Partner Rebecca Gordon who was assisted by Senior Associate Ed Nisbet. Partner David Nisbet provided Tax advice.
Mears Group plc was advised by Travers Smith.
Osborne Clarke’s Corporate team is considered a go-to practice for many companies, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.