Taylor Wessing advise Alliance & Leicester on £83.5m merchant acquisition deal

11-May-2004  |  Banking & Finance, Corporate, Employment & Pensions, Financial Institutions & Services, Tax

Lawyers Graham Hann, Peter Jackson, Sean Nesbitt, Peter Shepherd, David Roberts

 

Taylor Wessing has advised Alliance & Leicester, on the sale of its merchant acquisition business unit to (and related alliance with) a UK affiliate of NOVA Information Systems Inc ("NOVA"). The sale price was £83.5m.

Alliance & Leicester is one of the UK's largest financial services groups and member of the FTSE 100 index of leading shares.

NOVA is one of the largest credit and debit card processing houses in the US and a wholly owned subsidiary of US Bancorp.  Following the deal NOVA will continue to provide an Alliance & Leicester Commercial Bank branded merchant acquiring solution for Alliance & Leicester's customers.

The Taylor Wessing team was lead by David Roberts (Corporate) and assisted by Ryan Barrow (Corporate), Graham Hann (Intellectual Property), Peter Jackson (Tax), Peter Shepherd (Banking), and Sean Nesbitt (Employment).  The Taylor Wessing team worked closely with Margaret Neill (Managing Solicitor for Alliance & Leicester's Commercial Bank unit).

NOVA was advised by McKenna Long & Aldridge (led by Rich Willis) and Jones Day.

Alliance & Leicester's financial advisers were Citigroup Global Markets.