Hogan Lovells Advises RBS and Barclays on Financing of Moonpig.com Acquisition
25 July 2011
LONDON, 25 July 2011 - Hogan Lovells has advised Barclays and Royal Bank of Scotland (RBS) as mandated lead arrangers and bookrunners on the £120 million acquisition by PhotoBox of Moonpig.com. The transaction closed on Friday 22 July 2011.
PhotoBox is Europe's leading on-line digital photo service and is part of the Photoways group, which includes its French counterpart Photoways. It has 8.5 million members. Moonpig.com is the UK's number one online greetings card retailer and one of the fastest growing companies in the UK, with a turnover of around £40 million. Last year it reportedly sent out over 12 million greetings cards.
The Hogan Lovells team advising the banks was led by finance partner Stuart Brinkworth (assisted by London senior associate Jo Robinson) and included U.S. finance partner Russell DaSilva, French finance partner Michel Quere and London corporate partner Philip Watkins.
Stuart Brinkworth said:
"We are pleased to have been able to help Barclays and RBS on this transaction which saw us put together an international team of lawyers to deliver on the various challenges that this transaction presented."
PhotoBox were advised on tax matters by Baker & McKenzie and by Dechert for corporate and finance matters.
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