DARAG has completed sale of North American and Bermuda business entities to the RiverStone Group

DARAG Group (“DARAG” or “the Group”), a leading legacy acquirer with a focus on the European market, today announced that it has completed the sale of its North American and Bermuda business entities to the RiverStone Group (“RiverStone Group”), following regulatory approval.

Tom Booth, CEO of DARAG, said: “We are pleased to complete this transaction, which simplifies DARAG’s operations. It allows the Group to focus on its core European business, and brings additional capital to execute a strong pipeline of European transactions, several of which are in advanced stages of negotiation. We will now be bringing firepower to our European core where our strong, well capitalised niche position and good market conditions provide an excellent outlook.“

DARAG was advised by PJT Partners and Nomura as lead financial advisers, RBC as financial adviser, and Proskauer Rose LLP as legal adviser. RiverStone’s legal advisors were Norton Rose Fulbright US LLP.