International law firm Simmons & Simmons has advised global investment firm Invesco on certain regulatory matters related to the sale of its stake in The Co-operative Bank to Coventry Building Society (CBS), alongside other institutional sellers.
CBS will acquire the Co-operative Bank for a total cash consideration of £780m, with completion expected in the first quarter of 2025, subject to regulatory approval from both the PRA and FCA.
The Simmons team advising Invesco on the sale was led by partner Arthur Stewart from the firm’s UK Corporate group, supported by supervising associate Michal Kochaj, along with partner Alex Ainley from the firm’s financial services regulation practice, supported by managing associate Tristram Lawton.
Arthur Stewart comment: “We are delighted to have assisted our long-standing client Invesco on this transaction which reflects our strength in M&A in the asset management and investment funds industry and acting for regulated clients engaged in transactions in regulated markets.”
