Ince & Co is advising PVM Oil Associates, an independent broker of oil instruments, on its corporate sale to Tullett Prebon, an inter-dealer broker and London Stock Exchange-listed company.
Tullett Prebon announced that it reached an agreement to acquire PVM and its subsidiaries for a consideration of $160m (£95m) on 9 May 2014.
PVM is being sold by its management and certain employees. The senior management of PVM will remain with Tullett Prebon after the acquisition is completed, which is subject to regulatory approval and certain other conditions, and is expected to complete in the second half of 2014. The sale is expected to boost Tullett Prebon’s crude oil and petroleum broking operations.
The Ince & Co team included corporate partners Stephen Jarvis (who is leading the team) and Richard Britain, as well as senior associates Mona Patel, Matthew Stratton, James Gilbertson and solicitor Richard Hyman.