£839m Investec UK/ Rathbones merger gets regulatory go-ahead

An all-share deal that will see UK wealth manager Rathbones buy rival Investec’s wealth and investment arm in the UK will go ahead on 21 September after the two received regulatory clearances to merge and create an enlarged Rathbones entity. Read: Rathbones buys Investec UK wealth unit in £839mn deal The £839 million merger was announced in April, with Investec expected to be the minority shareholder in the bigger Rathbones, taking a 41.24% stake and 29.9% voting rights.

In a shareholder filing on Wednesday, Investec said all regulatory clearances had been received and that the combination and issuance of the Consideration Shares to the Investec Group is expected to go ahead next month. This is subject to the Financial Conduct Authority and the London Stock Exchange agreeing to admit the Consideration Shares to the premium listing segment and trading on the London bourse’s primary market for listed stocks.

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مصدر: News24 - 🏆 4. / 80 اقرأ أكثر »