Addisons has advised Serenade Sound Pty Ltd (Serenade) on the acquisition by ASX-listed music company Vinyl Group Limited (ASX:VNL) of Serenade’s business and 100% of the shares in its UK-based subsidiary.
Serenade is a blockchain business and Web3 platform pioneer of physical and digital collectibles in the music industry. Vinyl Group purchased the Serenade business, including the shares in its UK subsidiary, in an all scrip deal (with an upfront scrip payment and further scrip earn-out based on performance targets).
The Addisons team advising Serenade was led by Partner Geri du Plessis and supported by Solicitor Erin Miranda.
Serenade CEO Max Shand said, “It was a pleasure working with Geri and Erin on Serenade’s business sale to Vinyl Group. Their very practical approach to a fast moving commercial transaction ensured we felt confident and supported in the decisions we were making in a timely manner. We look forward to working with Addisons in the future.”
Geri du Plessis said, “Congratulations to Serenade on the acquisition of its business by Vinyl Group. The acquisition gives Vinyl Group entry into UK and European markets through Serenade’s diverse portfolio of partnerships with renowned record labels and artists. We look forward to seeing Serenade’s unique product and brand continue its pioneering work under Vinyl Group.”