The Co-operative Group has followed its conversion to an alternative business structure (ABS) with a transformative £750m acquisition of 632 Lloyds TSB and Cheltenham & Gloucester bank branches. The Co-op, which instructed magic circle firm Clifford Chance (CC) on the acquisition last year, will pay £350m upfront and an additional £400m based on the performance of the combined business.
July 19, 2012 at 07:31 AM
1 minute read
The original version of this story was published on Legalweek
The Co-operative Group has followed its conversion to an alternative business structure (ABS) with a transformative £750m acquisition of 632 Lloyds TSB and Cheltenham & Gloucester bank branches.
The Co-op, which instructed magic circle firm Clifford Chance (CC) on the acquisition last year, will pay £350m upfront and an additional £400m based on the performance of the combined business.
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