Vistra and Tricor complete merger to create USD6.5bn giant

Vistra Tricor Group merger

Three law firms assisted on the merger between Vistra and Tricor Group, both subsidiaries of Baring Private Equity Asia EQT, into a combined company with a market value of up to USD6.5 billion.

Private equity partners Elizabeth Todd and Oliver Nip led the Ropes & Gray team acting for BPEA EQT Funds VIII, an affiliated investment fund of BPEA EQT, and Tricor on the deal. Other support members included partners Alexander Zeltser, Arek Maczka, Chris Agnoli and Eve Ellis.

Partner Simon Cooke led the Latham & Watkins team representing BPEA EQT Funds V, BPEA EQT Funds VI and Vistra. No details were provided on Milbank’s role.

Goldman Sachs led the group of advisers on the merger, including Lazard, Barclays Investment Bank and HSBC.

The combined company, which will provide funds and corporate services to more than 50 jurisdictions, will be headquartered in Hong Kong, has more than 9,000 professionals and still owned by BPEA EQT. Simon Webster, the CEO of Vistra, will be the CEO of the combined entity while Tricor’s CEO Kim Jenkins will become COO.

Before the merger, Vistra was one of the world’s leading fund and corporate service providers and Tricor was a business expansion specialist in Asia.