J.C. Flowers to Sell Stake in Cabot to Encore
05.09.18
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Simpson Thacher is representing J.C. Flowers & Co. in the proposed sale of its stake in Cabot Credit Management to Encore Capital Group, Inc. (NASDAQ: ECPG). Encore will acquire the remaining equity in Cabot that it does not already own for total consideration to the other Cabot shareholders, including J.C. Flowers, of 5 million shares of Encore common stock and £175.5 million (approximately $238.2 million). The transaction is subject to regulatory approvals and other customary closing conditions.
Cabot is one of the largest credit management services providers in Europe and the market leader in the United Kingdom and Ireland.
The Simpson Thacher team for this transaction includes Maripat Alpuche and Ravi Purushotham (M&A); Lesley Peng (Capital Markets); and John Creed and Drew Purcell (Tax).