Addleshaw Goddard leads society mergers

Addleshaw Goddard is leading a trio of society mergers following the announcement of Universals proposed merger with Newcastle.

The deal is expected to be effective on December 31 2006.

The combined society will remain a mutual and will be named Newcastle Building Society.

Addleshaw Goddard has been involved with every one of the last nine society mergers since 1999.

In addition to Universal, it is currently advising on the merger between Lambeth and Portman which is expected to be effective by the end of September 2006, and the Mercantile on its merger with Leeds, which is set to complete in August 2006.

Adam Bennett, Addleshaw Goddard corporate partner, says: “We have a strong track record in the mutual sector and are delighted to be playing an integral role in the latest building society merger.

Having advised on every one of the last nine building society mergers, clients know they will receive a real specialist service from us and we can add significant value to their team.”

Addleshaw Goddard is highly regarded for its work in the mutual sector and acts for 34 of the 58 building societies based in England and Wales.

It has advised on a number of society mergers including Ilkeston Permanent and Clay Cross on their mergers with the Derbyshire, the Standard with Mercantile, Nottingham Imperial with Newcastle, and Portman with Staffordshire.