Area of Law: Banking
The bank provided a term loan of £4.5 million to a listed PLC company. This was granted to enable the company to acquire the entire issued share capital of another Company in the medical supply sector.
The bank’s customer is very acquisitive and Shakespeare Martineau has now advised the bank on 10 acquisitions made by this particular customer.
Due to this, the department has a strong working relationship with the borrower’s solicitors – who have a good understanding of Shakespeare Martineau’s requirements. The department has managed to pre-arrange a standard set of minutes and terms with the firm, which can now be relied upon and rolled out in accordance with each new deal. This continues to enable Shakespeare Martineau to deal with the transactions on a fairly quick basis and ensure that the process is efficient and cost-effective for the customer.