“We are delighted to have received FIRB approval, which satisfies an important condition of the Scheme Implementation Deed. We are already regulated in all the key jurisdictions where Mainstream operates and are well progressed with seeking the necessary approvals,” said Jonathon Clifton, Regional Managing Director, Asia-Pacific, Vistra.
“Vista and Mainstream are a good strategic and geographic fit. The acquisition would help us grow our alternative investment business and add significant scale to our fund services offering.”
“We are confident that our offer, which represents an EBIDA multiple of 17.4x on 2021E earnings, comparing favourably with peers, is compelling and will provide certainty to Mainstream shareholders.”
Vistra entered into a Scheme Implementation Deed with Mainstream on 9 March 2021, under which Vistra will acquire 100% of the shares in Mainstream at $1.20 per security by way of a board recommended scheme of arrangement.
The Scheme has no finance conditions and Vistra’s obligations under the Scheme will be fully funded by existing internal cash reserves and undrawn finance facilities.
Sylvia Evans, Head of Communications, firstname.lastname@example.org
Important considerations when recruiting and hiring workers in other countries
23 Sep 2021
Companies have many reasons for hiring a small number of employees, or even just one, in a country where they don’t have an existing presence. They may want to test the waters in a new market or fill a need for specific…
FATCA and CRS compliance considerations
20 Sep 2021
Vistra enters into a Sale and Purchase Agreement with Newhaven Expands its Company Formation and Private Wealth businesses
16 Sep 2021
Why private equity firms need to understand legal entity formation requirements in carve-out deals
15 Sep 2021
Vistra enters into a Sale and Purchase Agreement with Leydin Freyer, doubles the size of Vistra’s operations in Australia
09 Sep 2021
Options for offering benefits abroad: EORs, NREs and legal entities
07 Sep 2021