Epiris Fund II L.P., managed by Epiris Managers LLP entered into a binding agreement to acquire Time Inc. (UK) Ltd. from Meredith Corporation (NYSE:MDP) for approximately £110 million on February 23, 2018. The purchase price is subject to certain purchase price adjustments. Chris Hanna, Ian Wood and Nicola Gray of Epiris LLP led the transaction. Ares Management and HSBC will provide debt for the acquisition. The transaction is expected to complete on March 15, 2018. Gavin Davies, Brian O'Malley, Faria Ali, Hannah Lee of Herbert Smith Freehills LLP acted as legal advisor while Barou Advisers acted as financial advisor for Meredith. Jefferies International acted as financial advisor, PwC acted as accountant and Stephen Drewitt, Kirstie Hutchinson, Richard Burrows, Tom Pedder, William Sykes, Peter Abbott and Malcolm Walton of Macfarlanes LLP acted as legal advisors for Epiris. Epiris Fund II L.P. managed by Epiris Managers LLP completed the acquisition of Time Inc. (UK) Ltd. from Meredith Corporation (NYSE:MDP) on March 15, 2018.