Carey Olsen leads on sale of MitonOptimal's Channel Islands operation to Ravenscroft, as M&A activity continues apace

The deal, which is expected to complete in the next two months, will see MOIL's team in Guernsey move across to Ravenscroft, with both companies trading under the Ravenscroft name.

The acquisition of MOPML and VLL is the latest example of the consolidation taking place across Guernsey's financial services sector, which has also seen the acquisitions of Trust Corporation International (by Ocorian) and Humboldt Re (by Marco Capital) in recent months.

Carey Olsen, which has acted as lead counsel on each of these transactions, advised MOIL on the drafting and negotiation of all sale documentation and all regulatory aspects of the deal. The firm's team was led by corporate partner Tom Carey and senior associate Colin Calvert, with associate Lois Madden advising on the employment aspects.

Tom said: "MOIL is a long standing client of the firm and the first ever client I acted for when I returned to Guernsey. It has been a privilege to represent them throughout their life cycle and we were delighted to advise on the sale of their Channel Islands operations to Ravenscroft. M&A activity is currently at a record level internationally with financial services businesses being particularly valued by buyers. The high level of deal flow we are experiencing in Guernsey appears to be representative of this wider trend."

Carey Olsen continues to be the only law firm ranked as Tier One for corporate advice in Guernsey across each of the leading independent legal directories – Chambers UK, The Legal 500 UK and The IFLR1000. Client feedback described the firm's lawyers as 'excellent' and able to offer 'responsive, pragmatic, commercial legal advice'.