|
CMS Cameron McKenna LLP has advised Accor Services, on its acquisition of all outstanding shares in PrePay Technologies Ltd, the UK’s leading issuer of prepaid card solutions, for a total discounted investment of £50 million.
The CMS Cameron McKenna team was led by Corporate Partner, Martin Mendelssohn. The team also included Corporate Partner, John Cadman, and Corporate assistant, Mark Forman.
PrePay Technologies’ core shareholders were previously GE Capital, GRP Partners, Arts Alliance and Link Group. PrePay Technologies was established in London in 2000 and has 50 employees.
PrePay Technologies Ltd is authorised to issue e-money, regulated by the Financial Services Authority in the UK and is a MasterCard Member Service Provider. A number of leading British brands have chosen PrePay Technologies to operate their prepaid card programmes.
Accor Services is one of the UK’s leading providers of employee benefits, work / life solutions and government services.
Struan Penwarden from Heller Ehrman LLP advised the sellers. |