Pepper Group to sell Pepper European Servicing to Link Group for €165 million
Clients Pepper Group Limited
Jones Day is advising Pepper Group Limited, a leading diversified global consumer finance business, in connection with its sale of Pepper European Servicing (PES) to Link Group. The purchase price comprises €165 million payable up front plus a further €35 million upon certain assets under management thresholds and growth milestones being met. PES provides end-to-end loan servicing and asset management across performing and non-performing residential and commercial debt portfolios in the UK, Ireland, Spain, Greece, and Cyprus. Headquartered in London, PES has circa €40 billion of assets under management and employs a team of around 880. The transaction is subject to regulatory approvals and is expected to close in the second half of 2020. The purchaser, Link Group, is a market-leading provider of technology-enabled administration solutions and is listed on the Australian Securities Exchange.