Mishcon de Reya advises MaRussia Motors on its investment in Formula 1's Virgin Racing

Mishcon de Reya advised Russian supercar manufacturer, MaRussia Motors, on it's acquisition from Lloyd's TSB Development Capital Limited of a majority stake in Manor Holdco Limited, the Virgin Racing Formula 1 team. The team will be rebranded as MaRussia Virgin Racing for the 2011 season in a deal which furthers Russian involvement in F1 ahead of the Russian Grand Prix, which will feature for the first time in the 2014 season.

The Mishcon de Reya team was led by corporate partner, Kevin McCarthy, and included corporate partner Jonathan Berman, corporate assistants Laura Chandler and Victoria Theaker and banking assistant Eric Irvine. Commercial partner, Martyn Hann, advised on the related sponsorship arrangements.

Kevin McCarthy commented: "The deal played to many of our strengths - we have an excellent record of delivering complex deals within tight time constraints and this transaction certainly fell into that category. We also know our way round Formula 1 which helped focus our efforts in the time available."

MaRussia's Andy Webb said: "I was delighted with the quality of support from Mishcon de Reya. A first class legal team able to operate efficiently in challenging circumstances."

Lloyd's TSB Development Capital were advised by Eversheds (Richard Moulton and Mark Saunders).