Collas Crill has advised JTC on its acquisition of Minerva Holdings Limited and MHL Holdings SA. JTC is a Jersey-based London Stock Exchange listed provider of fund, corporate and private wealth services, and the Minerva Group is a provider of private client, corporate, fund and treasury services with a track record spanning more than 40 years, and is also headquartered in Jersey. Following regulatory approval, the transaction will see JTC acquire the bulk of Minerva's worldwide business.
The acquisition is part of JTC's growth strategy outlined on its IPO in March 2018.
The deal team was lead by Jersey group partner Dilmun Leach and senior associate Fiona Wilson, assisted by associate David Walters, all of whom are members of Collas Crill's Jersey corporate, finance and funds department. Support was provided by group partners Ian Montgomery, Pamela Doherty and Kellyann Ozouf on BVI, commercial property and private client aspects respectively, along with senior associate Nick Marshall and associates Ross Rennie and Calvin Crilly.
The transaction involved Minerva entities in a number of jurisdictions, including Jersey, Dubai, Switzerland, Singapore, Mauritius and the UK.
Dilmun Leach said: "Working on such a complex, time-pressured and challenging cross-border transaction with one of our key clients has been a rewarding experience. We are delighted to have had the opportunity to work with JTC to make this acquisition a reality. The success of this deal only enhances Collas Crill's growing reputation as a leading adviser on corporate law matters in the Channel Islands."
Nigel Le Quesne, CEO of JTC PLC, said: "We are delighted to announce this important acquisition. Minerva has a long track record, with particular strength in the private client sector and the markets of Africa, Asia and the Middle East. Dilmun and his team understood the importance of this transaction to JTC from the outset, and worked tirelessly to provide timely, accurate advice to bring this matter to a successful conclusion."
