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| 1 minute read

A Sovereign Expansion

This time last year, my team and I were locked-down in our homes amidst the first wave of Covid-19 in Gibraltar. In a very uncertain climate, we successfully completed the purchase of Trusted Novus Bank by our client, Rooke Investments Limited.

Roll the calendar forward nearly a year, and fresh out of Gibraltar's second lockdown, we assisted The Sovereign Group in its acquisition of STM Fidecs' trust and company management business. Though now well-versed in the intricacies of working from home, and having drastically reduced the amount of times we are told "you're on mute" on Zoom or Teams calls, completing acquisitions in these circumstances brings with it its distinct challenges.

As ever during times of uncertainty, however, it is encouraging to see our clients expanding their business offerings and facing the future with excitement and optimism. The Sovereign Group's recent move to their new, iconic Main Street headquarters, and their acquisition of Fidecs' fiduciary business, shows their commitment to the jurisdiction, to the industry, to their staff, their suppliers and customers, and shines a bright light into the much-anticipated "new normal".

Throughout testing and less testing times, Hassans will resolutely stand alongside its clients, delivering the best advice, service and assistance - even if it is from our sofas!

Many congratulation to The Sovereign Group on their acquisition, and our best wishes to them for the future.

Hassans was delighted to advise The Sovereign Group, provider of corporate, private client and retirement planning services, on their acquisition of STM Fidecs Management Limited (FML), the Gibraltar-based trust and company management arm of the AIM-listed STM Group and one of the longest-standing and most prominent fiduciary businesses in Gibraltar.

Tags

mergers and acquisitions, corporate commercial