News and Deals
News and Deals
Linklaters has advised global private equity firm Warburg Pincus on its acquisition of a minority equity stake in United Trust Bank (“UTB”), a leading UK specialist bank, valuing the banking group at approximately £520m.
UTB has been successfully building its business and brand for over 20 years with its focus on recruiting the best people, developing its product range and a disciplined approach to growth. Today, UTB has around 60,000 deposit customers and total assets approaching £4 billion.
This agreement, which is subject to the relevant regulatory approvals, will support the continuation of UTB’s strong growth and expansion into new products.
The Linklaters team was led by Co-Head of the firm’s Global Financial Sponsors group Alex Woodward and Corporate/M&A partner Fionnghuala Griggs, alongside managing associate Tom Gavin and associates Dulan Dantanarayana and Josh Chang.
They were supported by Banking partner Edward Chan, managing associate Emeric Monfront and associate Maximilian Dyck, Financial Regulation partner Alastair Holt and managing associate Alex Beaghton, Capital Markets counsel Andrew Chaplin and associate Claudia Tse, Tax partner Sam Lintonbon and associate Bonnie Yeung, Antitrust and Foreign Investment partner Jonathan Ford and associate Erasmia Petousi, Employment and Incentives partner Alexandra Beidas, counsel Simon Kerr-Davis, managing associate Hanaan Ullah and associate Avani Agarwal, Intellectual Property partner Yohan Liyanage and associate Zaki Nathani, TMT partner Julian Cunningham-Day and associate Hansen Ong, Litigation, Arbitration and Investigations counsel Elly Proudlock and associate Takudzwa Dende and Pensions managing associate Will Rose.