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NOTICIAS/ NEWS DEALS - OPERACIONES published MARCH 25, 2010 Slaughter and May advised SAV Credit on Acquisition of Citi card portfolio in the UK Slaughter and May advised SAV Credit Limited ("SAV"), a leading UK specialist credit card provider, and CC Asset Management Limited, a company incorporated in Ireland, on the purchase of the Citi branded credit card portfolio in the UK from CitiFinancial Europe PLC, for an undisclosed sum. The transaction involves the purchase of approximately £835 million in customer balances and 539,000 credit card customer accounts, and increases significantly the customer base serviced by SAV and takes the credit card portfolio owned or serviced by SAV to over £1 billion. Funding for the acquisition has come from SAV's new investment partner Värde Partners as well as its existing private equity investors Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners. Slaughter and May advised on both the corporate and financing aspects of the acquisition. Corporate: David Wittmann (partner), Mark Thomas (associate), Ben Ryan (associate) Financing: Mark Dwyer (partner), Andrew Balfour (partner), Louise Flanagan (associate), Jo Syrett (associate), Patricia Anyaegbuna (associate), Doug Highet (associate), Outsourcing/IP: Rob Sumroy (partner), Claire Morrissey (associate), Louisa Christofidou (associate); Tax: Graham Iversen (partner); Financial Regulation: Kristina Locmele (associate).

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