OneSavings Bank (OSB) and Charter Court Financial Services Group merger

11/3/2019
Merger

£ 1.6 billion

$ 2.129 billion

Announced

11/3/2019


Overview:

  • OneSavings Bank (OSB) and Charter Court Financial Services have confirmed that they are in talks over a £1.6 billion merger.
  • The two challenger banks are looking to combine to create a stronger specialised mortgage lender.
  • The terms of the deal as it stands would see OSB paying 0.8253 new shares for each Charter Court share giving them 55% of the new company.
  • Barclays and Rothschild are acting as financial advisers to OSB, with Rothschild also acting as sponsor.
  • RBC Capital markets and Credit Suisse are advising Charter Court.

Sam Duke

 

Continue reading...

New to IFLR1000?

Register today for FREE:

  • Understand market dynamics, with data broken by deal type and more
  • Access law firms and lawyers involved in deals
  • Gain unique insight into lawyers recent work
REGISTER NOW

Sign in