Linklaters has advised Praesidiad Limited on the completion of its recapitalisation transaction, involving its acquisition by its financial partners from existing shareholders, and a strengthening of its financial and balance sheet position to support the future growth of the business.
The transaction involved implementation via an English scheme of arrangement, and had been subject to receipt of certain customary regulatory approvals. All required regulatory approvals have now been obtained, and formal completion of the transaction occurred on 28 May 2024.
As a result of the transaction, Praesidiad’s financial indebtedness has been significantly reduced, and its maturities will be extended. Praesidiad’s optimised capital structure means it has improved operational flexibility and runway, allowing it to become a stronger business.
The Linklaters team was led by Restructuring partner Rowland Light, alongside managing associate Ian Tsui, associates Rollo Speak, Charlotte Spanner and Amy Kidd.
Partner Oliver Sceales and associate Amrit Singh Gill advised on financing matters.
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