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Afterpay Touch advised on UK expansion
Australian company Afterpay Touch Group has expanded into the United Kingdom by acquiring ‘buy now, pay later’ platform ClearPay as well as its placement and share purchase.
Jerome Doraisamy
Firm: Baker McKenzie (Afterpay Touch Group); Shoosmiths (ClearPay).
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Deal: Afterpay has acquired ClearPay and the $117 million placement and a proposed $20 million share purchase plan.
Area: Capital Markets.
Value: Combined $137 million.
Key players: The Bakers team was led by partner Guy Sanderson, who was assisted by senior associate Lana Tian, as well as partner Lauren Magraith and associate Matthew de Cataldo.
Deal significance: “We are delighted to have worked with Afterpay on this transaction, which will be a game changer for UK retailers and consumers. Afterpay is a great Australian technology success story and we are very proud to have worked alongside the company on its growth trajectory, from IPO in 2016, merger with Touchcorp in 2017, and now international expansion,” Mr Sanderson said.
“Baker McKenzie is pleased to have been able to showcase our international M&A, ECM and fintech industry credentials on this deal.”
