Cripps acts for French buyer in cross-channel acquisition
Law firm Cripps has successfully concluded a complex international acquisition involving simultaneous completions in London and Paris.
The deal to buy the shares of The Internet Corporation Ltd, a London-based internet services provider, is the latest acquisition by French company PIXID SAS as part of its pan-European expansion strategy, and the first involving a UK-registered company.
The Cripps team, led by partner Olivier Morel, worked with PIXID on all stages of the transaction, from due diligence, through the negotiations and including delivery of documentation required to secure funding from the buyer’s syndicate of French banks.
“This international deal was a complex one involving multiple vendors,” said Olivier. “Completions took place simultaneously in London and Paris with members of the Cripps team required in both locations as contracts were signed and funds transferred.”
Etienne Colella, President of PIXID said: “For our first acquisition in the UK we needed a flexible and skilled legal adviser with a thorough understanding of the issues we were likely to face in concluding an Anglo-French deal.
“We found that in Cripps, who guided us through the English legal system and whose expertise helped us make the first expansion of our business into the country.”
In recent months, Cripps has worked on deals involving companies in the USA, Canada, Singapore, Germany, France and Spain amongst others. It is a member of MARCALLIANCE, an international alliance of law firms.