Ogier has advised Ministry of Sound Group on the landmark sale of its record label business to global media giant Sony.
Lawyers in the Jersey office advised on matters of Jersey law relating to the transaction, alongside Ministry of Sound Group’s London lawyers Olswang. Sony Music Entertainment UK Ltd – wholly-owned subsidiary of the Sony Corporation – has acquired the business for an undisclosed sum, including its artists, back catalogue and compilations business. The curator team behind Ministry of Sound’s compilation team are responsible for approximately one in every six compilation albums sold in the UK. Ministry of Sound Recordings was launched in 1993 as an extension of the pioneering South London nightclub founded by James Palumbo, now Lord Palumbo of Southwark, and is among the world's largest dance music recording businesses. In the last 23 years, they have sold more than 70 million records, including 40 UK No. 1 albums and 21 UK No. 1 singles. Lohan Presencer, Chief Executive of Ministry of Sound Group, said that the new partnership will allow Ministry of Sound Recordings to grow its recorded music offering on a truly global scale. Mr Presencer said: “I'm delighted we have found the right home to grow Ministry of Sound Recordings at a global level while keeping its unique identity.” Ogier corporate partner Raulin Amy worked with senior associate Lisa Floris on the transaction. Raulin said: “We are delighted to have assisted our long standing client with their restructuring and the successful sale of Ministry of Sound Recordings Limited, which is one of the most significant deals in the music industry in recent years. “As one of the leading and recognisable brands in global dance music, this is an exciting client for us to be involved with.”