Allen & Overy (A&O) and Jones Day have taken lead roles on the tie-up between Richard Branson's Virgin Money and US investor Wilbur Ross, reports The Am Law Daily. Ross has agreed to invest £100m in Virgin Money in exchange for a 21% stake in the company, and the billionaire is set to inject as much as £500m more into Virgin Money to help it in its bid to acquire distressed British banking assets.
April 06, 2010 at 05:55 AM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) and Jones Day have taken lead roles on the tie-up between Richard Branson’s Virgin Money and US investor Wilbur Ross, reports The Am Law Daily.
Ross has agreed to invest £100m in Virgin Money in exchange for a 21% stake in the company, and the billionaire is set to inject as much as £500m more into Virgin Money to help it in its bid to acquire distressed British banking assets.
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