Firm News

Mishcon de Reya advises IFR Capital plc on its €135 million placing and admission to AIM

Release Date:

15 November 2006

Deal completion date:  15 November 2006

Mishcon de Reya advises IFR Capital plc, a newly incorporated Cyprus company, established as an acquisition platform to target small and mid-sized businesses in the continental European food industry, on its €135 million placing and admission to AIM. 

IFR Capital's three targeted sub-sectors are; retail (mainly shops or restaurants), industry (wholesale and production) and distribution, and its intended long-term strategy is to create a leading, vertically-integrated food business.

The deal involved the placing of €135 million ordinary shares of €0.01 at €1 each by Collins Stewart on behalf of IFR Capital plc, and admission to trading on AIM of the entire issue, and to be issued, ordinary share capital.

Nick Davis, Head of Mishcon de Reya's Corporate Group led the team with Senior Corporate Assistant Karl Huckle.

Other parties included ACP Capital Limited, Collins Stewart Europe Limited, Kingston Smith LLP, Ernst & Young LLP, Ernst & Young AG, Noerr Steifenhofer Lutz (German lawyers to IFR Capital plc), Pepper Hamilton LLP (US lawyers to IFR Capital plc) and Rosenblatt Solicitors (lawyers to Nomad and Broker).

Nick Davis commented: "We are delighted to have been chosen to advise IFR Capital on such a successful listing. We were also pleased that ACP Capital, IFR Capital's adviser and sponsor, continues to recommend us for this work. This means that for or through ACP Capital we have advised on three AIM listings in the 2006 calendar year".

Nikolaj Larsen, director of IFR Capital commented: "It really helps to have the team from Mishcon working with us. They not only provided quality advice on the placing and admission, but effortlessly managed the other lawyers in seven different jurisdictions and took a great deal of the burden away from us."