Addleshaw Goddard LLP - Legal Counsel to International Personal Finance plc on its proposed £543m takeover by BasePoint Capital LLC

International law firm Addleshaw Goddard has advised FTSE 250 listed International Personal Finance plc on its proposed £543m takeover by BasePoint Capital LLC, a leading provider in the United States of asset-based financing to select speciality finance companies, which announced today.

IPF is a leading international financial services provider which was established in 1997 as a division of Provident Financial, and demerged and listed on the London Stock Exchange in 2007. IPF specialises in delivering unsecured consumer credit and value-added services to underserved consumers across nine markets: Poland, Hungary, Romania, Czech Republic, Mexico, Australia, Latvia, Lithuania, and Estonia.

Through its diversified product suite, including home credit, digital instalment loans, credit cards, retail credit, digital credit lines, and a mobile wallet, IPF responsibly serves approximately 1.7 million customers, commenting on the transaction, Stuart Sinclair, Chair of International Personal Finance said:

"The IPF Board has been considering its options to ensure that the market value better reflects the business's opportunities and prospects, having consistently traded at a substantial discount to comparable international businesses over the past ten years. Whilst the Board continues to believe in the strategy and long-term prospects of IPF on a standalone basis, we recognise that the acquisition allows IPF Shareholders to monetise their entire investment for cash at a fair price. We believe that the business will benefit from BasePoint's ownership and its commitment to fulfil IPF's s purpose of building a better world through financial inclusion."

The AG deal team was led by Simon Wood and Lucy Robson, supported by Jeremy Cruse, Faye Wiles and McLean Wickham. Regulatory and Antitrust advice was provided by Rona Bar-Isaac, Paul Anderson, Tom Withers and Marine Pouzoulet and Jonathan Fletcher Rogers and Leah Fisher advised on share schemes.

Simon Wood, Corporate Finance Partner at Addleshaw Goddard said:

"We are delighted for IPF at this announcement, and have enjoyed working with them and their wider advisory team – Addleshaw Goddard was able to bring its expertise in both listed markets and the financial services sector to help deliver the deal that will support IPF's purpose of building a better world through financial inclusion"