Wallace acts for majority shareholder in Tottenham Hotspur in deal where Sir Alan Sugar sells his stake in the club
June 2007
Link to LegalWeek press coverage of the deal 21/06/07
Wallace is acting for Enic International, an investment company owned by the family trusts of international investor, Joseph Lewis and Tottenham Hotspur chairman, Daniel Levy. Enic is the largest shareholder in Tottenham Hotspur.
Enic has entered into an agreement with Amshold, a company owned by entrepreneur Sir Alan Sugar and his family, under which Enic is purchasing Amshold’s stake in Tottenham Hotspur for £25 million. Sugar’s Amshold sold most of its shares in Tottenham to Enic in 2001 and this sale ends his relationship with the club where he was the second largest shareholder.
As a result of buying the stake from Amshold, Enic’s shareholding in Spurs now stands at 66 percent, up from 54 percent previously. The agreement with Amshold triggers an obligation under the City Code for Enic to make a takeover offer in cash for all the Tottenham Hotspur shares not already owned by it. Enic has announced its intention to make the takeover offer which values the issued share capital of Tottenham Hotspur at £210 million.
Wallace is representing Enic in the Amshold transaction and on the making of its takeover offer. This demanding assignment (structured and implemented within one week) has been handled by Rex Newman, Managing Partner and the Wallace corporate team spearheaded by senior associate Charlotte Wheeldon.
Commenting on the deal, Rex Newman said:-
“This has been an exciting transaction with a positive outcome for Enic, whose purpose is to increase their shareholding in Tottenham Hotspur as a sign of their long term confidence in the Club and to provide it with ongoing stability. Enic is a long standing client of the firm and we have acted for them and their shareholders in numerous corporate transactions, including taking the Group private in 2003”.
Kaupthing Limited is acting as financial adviser to Enic International. Seymour Pierce is acting as financial adviser to Tottenham Hotspur. Amshold is represented by Herbert Smith.
Read the full announcement on the London Stock Exchange website and see today’s Financial Times.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1501238&source=RNS
http://www.ft.com/cms/s/6c1f140a-155e-11dc-b48a-000b5df10621.html
*** *** ***
Note to editors:
Wallace has acted for the Enic Group for many years. Most recently, Wallace advised Enic on the sale of its shares in 365 Media Group to BSkyB (Dec 2006), the reduction of its majority shareholding in Slavia Prague to a minority interest (April 2006) and the sale of Italian football club Vicenza Calcio (2005).
Ends
For further information please contact:
Rex Newman
Managing Partner
Tel: 020 7467 8749
Wallace acts for majority shareholder in Tottenham Hotspur in deal where Sir Alan Sugar sells his stake in the club
June 2007
Link to LegalWeek press coverage of the deal 21/06/07
Wallace is acting for Enic International, an investment company owned by the family trusts of international investor, Joseph Lewis and Tottenham Hotspur chairman, Daniel Levy. Enic is the largest shareholder in Tottenham Hotspur.
Enic has entered into an agreement with Amshold, a company owned by entrepreneur Sir Alan Sugar and his family, under which Enic is purchasing Amshold’s stake in Tottenham Hotspur for £25 million. Sugar’s Amshold sold most of its shares in Tottenham to Enic in 2001 and this sale ends his relationship with the club where he was the second largest shareholder.
As a result of buying the stake from Amshold, Enic’s shareholding in Spurs now stands at 66 percent, up from 54 percent previously. The agreement with Amshold triggers an obligation under the City Code for Enic to make a takeover offer in cash for all the Tottenham Hotspur shares not already owned by it. Enic has announced its intention to make the takeover offer which values the issued share capital of Tottenham Hotspur at £210 million.
Wallace is representing Enic in the Amshold transaction and on the making of its takeover offer. This demanding assignment (structured and implemented within one week) has been handled by Rex Newman, Managing Partner and the Wallace corporate team spearheaded by senior associate Charlotte Wheeldon.
Commenting on the deal, Rex Newman said:-
“This has been an exciting transaction with a positive outcome for Enic, whose purpose is to increase their shareholding in Tottenham Hotspur as a sign of their long term confidence in the Club and to provide it with ongoing stability. Enic is a long standing client of the firm and we have acted for them and their shareholders in numerous corporate transactions, including taking the Group private in 2003”.
Kaupthing Limited is acting as financial adviser to Enic International. Seymour Pierce is acting as financial adviser to Tottenham Hotspur. Amshold is represented by Herbert Smith.
Read the full announcement on the London Stock Exchange website and see today’s Financial Times.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1501238&source=RNS
http://www.ft.com/cms/s/6c1f140a-155e-11dc-b48a-000b5df10621.html
*** *** ***
Note to editors:
Wallace has acted for the Enic Group for many years. Most recently, Wallace advised Enic on the sale of its shares in 365 Media Group to BSkyB (Dec 2006), the reduction of its majority shareholding in Slavia Prague to a minority interest (April 2006) and the sale of Italian football club Vicenza Calcio (2005).
Ends
For further information please contact:
Rex Newman
Managing Partner
Tel: 020 7467 8749
Wallace acts for majority shareholder in Tottenham Hotspur in deal where Sir Alan Sugar sells his stake in the club
June 2007
Link to LegalWeek press coverage of the deal 21/06/07
Wallace is acting for Enic International, an investment company owned by the family trusts of international investor, Joseph Lewis and Tottenham Hotspur chairman, Daniel Levy. Enic is the largest shareholder in Tottenham Hotspur.
Enic has entered into an agreement with Amshold, a company owned by entrepreneur Sir Alan Sugar and his family, under which Enic is purchasing Amshold’s stake in Tottenham Hotspur for £25 million. Sugar’s Amshold sold most of its shares in Tottenham to Enic in 2001 and this sale ends his relationship with the club where he was the second largest shareholder.
As a result of buying the stake from Amshold, Enic’s shareholding in Spurs now stands at 66 percent, up from 54 percent previously. The agreement with Amshold triggers an obligation under the City Code for Enic to make a takeover offer in cash for all the Tottenham Hotspur shares not already owned by it. Enic has announced its intention to make the takeover offer which values the issued share capital of Tottenham Hotspur at £210 million.
Wallace is representing Enic in the Amshold transaction and on the making of its takeover offer. This demanding assignment (structured and implemented within one week) has been handled by Rex Newman, Managing Partner and the Wallace corporate team spearheaded by senior associate Charlotte Wheeldon.
Commenting on the deal, Rex Newman said:-
“This has been an exciting transaction with a positive outcome for Enic, whose purpose is to increase their shareholding in Tottenham Hotspur as a sign of their long term confidence in the Club and to provide it with ongoing stability. Enic is a long standing client of the firm and we have acted for them and their shareholders in numerous corporate transactions, including taking the Group private in 2003”.
Kaupthing Limited is acting as financial adviser to Enic International. Seymour Pierce is acting as financial adviser to Tottenham Hotspur. Amshold is represented by Herbert Smith.
Read the full announcement on the London Stock Exchange website and see today’s Financial Times.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1501238&source=RNS
http://www.ft.com/cms/s/6c1f140a-155e-11dc-b48a-000b5df10621.html
*** *** ***
Note to editors:
Wallace has acted for the Enic Group for many years. Most recently, Wallace advised Enic on the sale of its shares in 365 Media Group to BSkyB (Dec 2006), the reduction of its majority shareholding in Slavia Prague to a minority interest (April 2006) and the sale of Italian football club Vicenza Calcio (2005).
Ends
For further information please contact:
Rex Newman
Managing Partner
Tel: 020 7467 8749
June 2007
“This has been an exciting transaction with a positive outcome for Enic, whose purpose is to increase their shareholding in Tottenham Hotspur as a sign of their long term confidence in the Club and to provide it with ongoing stability. Enic is a long standing client of the firm and we have acted for them and their shareholders in numerous corporate transactions, including taking the Group private in 2003”.
Note to editors:
Wallace has acted for the Enic Group for many years. Most recently, Wallace advised Enic on the sale of its shares in 365 Media Group to BSkyB (Dec 2006), the reduction of its majority shareholding in Slavia Prague to a minority interest (April 2006) and the sale of Italian football club Vicenza Calcio (2005).
Managing Partner
Tel: 020 7467 8749