Akin Gump Strauss Hauer & Feld LLP and Clifford Chance are advising on Helios and Helios Fairfax’s US$297 million offer to acquire CAB Payments.

Helios Investment Partners and Helios Fairfax Partners Corporation have launched a US$297 million offer to acquire CAB Payments Holdings PLC, the parent company of Crown Agents Bank.

Under the terms of the transaction, Helios and Helios Fairfax have offered to acquire all shares in CAB Payments that they do not already own for US$1.15 per share in cash. The offer also includes a limited stock alternative for shareholders who elect to exchange their CAB Payments shares for unlisted shares in the bidding vehicle formed by the investors, capped at 15% of CAB Payments’ total shares. The proposed acquisition is being supported by financing arranged by Rand Merchant Bank.

Akin Gump Strauss Hauer & Feld LLP advised Helios Investment Partners and Helios Fairfax Partners Corporation on the transaction.

The team was led by Corporate Partners Harry Keegan and Shaun Lascelles, and included Lead Counsel George O’Malley-Knowles, Counsels Andrew Finogin, Mazen Baddar and Bishoy Eskander, and Associate Gloriya Andonova. The wider team included Finance Partner Amy Kennedy; Antitrust and International Competition Partner Davina Garrod with Associates Charles Tay, Isabelle Egetenmeir and Aaron Brooks; Financial Regulatory Partner Ezra Zahabi, Counsel Suley Siddiqui, and Associate Michael Carr; and International Trade Counsel Audrey Kim.

Clifford Chance advised Rand Merchant Bank, acting as mandated lead arranger on the acquisition financing for the transaction.

The team was led by Partner Jim MacHale, with Associates Rachel Lodge and Chantelle Richter, Trainee Chelsea Nkafu, and Corporate Partner Olivia Higgs with Senior Associate Faeezah Tailor.