Bedell Cristin Guernsey advises on aspects of £120m Moonpig.com acquisition
25 August 2011
Bedell Cristin Guernsey Partnership (partners Mark Helyar and Kate Ovenden, assisted by Emma Corbin) has advised Barclays Bank, Barclays Corporate, The Royal Bank of Scotland plc and National Westminster Bank plc on Guernsey law security relating to Photobox’s £120m purchase of online cards retailer Moonpig.com.
Security for the transaction was provided, in part, by a bond over freehold property situated in Guernsey. The team at Bedell Cristin acted in conjunction with Hogan Lovells International LLP, English counsel for the lenders.
The transaction has been held up as significant for the UK online retail sector. Moonpig.com, which is based in Guernsey and employs some 50 people locally, is said to be the largest online retailer of greetings cards in the UK.