Cains’ top tiered corporate and litigation teams are pleased to have advised multi-jurisdictional financial services group, STM Group PLC, on the sale of its entire issued share capital to Jambo SRC Limited ‘Bidco’ for £35.6 million.
STM Group is a multi-jurisdictional financial services group listed on AIM, providing independent fiduciary services and asset structuring to high-net-worth individuals and corporate institutions. The Group specialises in the administration of client assets in relation to retirement, estate and succession planning and wealth structuring and has operations in the UK, Gibraltar, Malta, Jersey and Spain.
The acquisition was approved, following regulatory approval in Malta and Gibraltar, at an Isle of Man Court Hearing yesterday, 29th October 2024, at which the Court issued the Court Order sanctioning the scheme of arrangement effective from the 31st of October 2024.
The Cains team was led by corporate director Scott Leonard-Morgan and litigation consultant Robert Long, with support from associate Jess Whitley.
Scott Leonard-Morgan said: “We are delighted to have acted on this matter, supporting STM Group PLC, Cavendish Capital Markets and Pinsent Masons, advising on all Isle of Man legal aspects through our corporate and litigation departments. We wish the group under its new ownership all the best with its next chapter.”
