Simpson Thacher is representing Best Egg, Inc. in its agreement to be acquired by Barclays Bank Delaware for $800 million, subject to adjustment for tangible net assets and other customary adjustments. Completion of the transaction is subject to required regulatory approvals and other conditions.
Best Egg, Inc. is a leading US direct-to-consumer personal loan origination platform and has facilitated over $40 billion in personal loans to more than two million customers since its establishment in 2013. The company currently services approximately $11 billion in personal loans.
Barclays Bank Delaware is the wholly-owned US consumer banking subsidiary of Barclays PLC.
The Simpson Thacher team includes Ravi Purushotham, Si Sun, Price Figurelli-Reid, Wells Hamilton and Diobel Rodriguez (FIG M&A); Larry Moss, Alan Fenyes and Shivani Motamarri (Executive Compensation and Employee Benefits); Andrew Purcell and Paul Jansch (Tax); Spencer Sloan (Bank Regulatory); Peter Guryan, Rick Jamgochian and Kelly Karapetyan (Antitrust); Ron Ben-Yehuda and Alexander Kokka (Intellectual Property); and Steve DeLott (Insurance).