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02 Mar 2026

Ashurst Advises Rothschild & Co on Helios-Led Takeover Bid for CAB Payments

"Ashurst is advising Rothschild & Co, financial adviser to Mara BidCo Ltd. (owned/controlled by Helios Investors V entities and Helios Fairfax Partners), on a cash offer to acquire CAB Payments Holdings plc, the parent of Crown Agents Bank. CAB Payments specialises in FX and cross-border payments for hard-to-reach markets, with access to over 100 currencies and more than 700 currency pairs. Helios is a London-headquartered, Africa-focused private equity firm with on-the-ground capabilities in 30+ African countries; the Ashurst deal team is led by partners Tom Mercer and Tim Rennie, supported by Colin Bugler, Connor Lovie, Millie Gibbs and Shashtika Sundar."

Ashurst advised Rothschild & Co (the financial adviser to Mara BidCo Ltd, a company indirectly owned or controlled by Helios Investors V, L.P., Helios Investors V (Mauritius) L.P. and Helios Fairfax Partners Corporation) on the cash offer for CAB Payments Holdings plc. The transaction is a cash takeover offer by Mara BidCo Ltd for CAB Payments Holdings plc, the holding company of Crown Agents Bank, a UK‑regulated institution specialising in FX and cross‑border payments into underserved markets; CAB Payments serves public, private and development sector clients and offers access to over 100 currencies across more than 700 currency pairs. The bidder is sponsored by Helios Investment Partners, an Africa‑focused private equity firm. Lawyers from Ashurst who participated: Tom Mercer (Partner), Tim Rennie (Partner); Colin Bugler (Senior Associate), Connor Lovie (Senior Associate), Millie Gibbs (Senior Associate); Shashtika Sundar (Associate). The press release does not specify their practice areas.
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