Litigation funder IMF Bentham is acquiring Omni Bridgeway Holding B.V. (Omni Bridgeway) for up to €87.5 million (approx A$141 million) in total consideration.
Omni Bridgeway is a leading funder of litigation, arbitration and enforcement proceedings focusing on civil law jurisdictions primarily in Continental Europe and Central Asia.
Upfront consideration on completion to be funded by a fully underwritten A$139 million institutional placement and pro-rata accelerated non-renounceable entitlement offer.
Omni Bridgeway is a leading provider of funding and specialised skills for litigation, arbitration and enforcement proceedings, and for the work-out and monetisation of claims and non-performing loans focusing on civil law jurisdictions primarily in Continental Europe, the Middle East, North Africa and Central Asian regions.
It was founded in 1986 with a focus on distressed debt trading and legal work-out, growing to a leading global litigation funder today, with global operations and regional offices in Amsterdam, Cologne, Geneva, Dubai and Singapore.
Omni Bridgeway has a worldwide client base including leading law firms, banks, insurers, governments and multinationals. It’s strength and experience, according to IMF Bentham, lies in providing funding and services for enforcement cases, and non-performing assets, focusing on civil law jurisdictions primarily in Continental Europe and the Middle East, North Africa and Central Asian regions.
IMF Bentham explains that the acquisition of Omni Bridgeway symbolises the completion of IMF’s initial five-year plan to diversify risk through, amongst other things, geographic expansion and sourcing capital from third parties. The acquisition is expected to accelerate IMF’s growth and create a major diversified global litigation funding platform across common law and civil law jurisdictions in both developed and emerging markets.
The Acquisition is expected to provide IMF with the expanded sourcing capacity and geographic footprint into the second largest litigation market in the world and IMF expects to enhance its capacity to commit investments to its various active funds, accelerating the economics for investors and IMF as manager.
Omni Bridgeway brings to IMF the opportunity for sourcing enforcement investments and operating the MENA DARP program (Middle East and North Africa Distressed Asset and Recovery Program) which would not otherwise be available to IMF. The MENA DARP program is an investment partnership between Omni Bridgeway and International Finance Corporation (part of the World Bank Group) that is designed to assist banks in the MENA regions with funding and cross border legal enforcement of high value (>US$2 million) corporate non performing loans.