Commentary - 30 January 2017

Hawksford supports sale of 14 million shares in online holiday provider On the Beach Group plc

Hawksford has supported the sale of a significant stake in online beach holiday provider On the Beach Group plc ("On the Beach").

We acted as a trustee and shareholder on the sale of 2.8 million shares at 240.00 pence on the London Stock Exchange in December 2016, helping to raise £6.8 million for the selling shareholder it represents. The private equity firm Inflexion formed a part of the total 14 million shares sold, raising £33.6 million in aggregate. 

Hawksford worked in partnership with London-based law firm Ashurst and Carey Olsen, who also supported the shareholders throughout the transaction.

David Carswell, Associate Director at Hawksford, commented: 'On the Beach is a valued partner for Hawksford's corporate services team. We provided support throughout the successful Initial Public Offering in 2015 as well as this recent sale, and we are delighted with the outcome for our client.'

After the placing, Inflexion retained a stake of 23.5 per cent in On the Beach, while the management sellers (including Hawksford), retain a 15.1 per cent stake.

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