LONDON - The international law firm of McDermott Will & Emery is acting for ING Barings, the corporate and investment banking arm of ING Group, on a £5 million vendor placing for Dixon Motors PLC. The deal was announced on 30 November 2000.
McDermott’s advised the Underwriter and Broker, ING Barings, on the vendor placing on behalf of Dixon Motors - one of the leading car retailers in the UK and (through the group's Carnell brand) the UK's number one for motorcycle sales - to raise funds to enable it to acquire the entire issued share capital of Motorsport Dealers International Limited which owns the Motorcycle City chain of motorcycle retailers.
The chain is one of the UK's largest independent retailers of new and pre-owned motorcycles, motorcycle accessories and clothing and it has been established for over 28 years. Motorcycle City has a network of 18 retail outlets, predominantly based in the southern regions of the UK, and 15 multi-franchise dealerships providing motorcycle sales, servicing and accessories. It also has a further three sites retailing clothing and accessories only.