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Ashfords' Corporate team has recently acted for management on the sale of Behavioural Insights, a company which uses behavioural science to devise low or no-cost interventions that change public behaviour for the better, to Nesta, the UK innovation foundation. Nesta, which already had a 30 per cent stake in Behavioural Insights, has acquired the remaining 70 per cent for £15.4m.
As part of the transaction, the UK Government also sold its one third stake in Behavioural Insights to Nesta. The deal will help Nesta achieve its 10-year mission to halve obesity rates, eliminate the school readiness gap and reduce household carbon emissions to net zero.
Ashfords' team was led by Partners Andy Young and Jocelyn Ormond, with support from solicitor Barney Sykes and a wider Ashfords team.
Commenting on the deal, Ashfords Partner Andy Young, said: “We are very pleased to have supported CEO David Halpern and the management team on the sale of Behavioural Insights to Nesta, working closely with David and General Counsel Nicky Kerr. The sale to Nesta brings two leaders in their fields together to tackle some of the UK’s most pressing social challenges ".