06/24/2020 | 09:24am BST
By Joe Hoppe
ACQUIRER: Brooks Macdonald Group PLC
SELLER: Lloyds Banking Group PLC
TARGET: Channel Islands wealth management and funds businesses Lloyds Investment Fund Managers Limited and Lloyds Bank International Limited
PRICE: Total expected consideration of 9.6 million pounds ($12.0 million). An initial consideration of GBP9.3 million will be paid, with a further consideration of GBP0.33 million to be paid after two years, depending on performance targets.
FINANCING: Cash from existing facilities.
STATUS: Agreed, subject to regulatory approval.
EXPECTED CLOSE: Expected in the fourth quarter of 2020.
RATIONALE: Brooks Macdonald says the wealth management and offshore funds business has GBP1.0 billion of discretionary funds under management and a strong client base. The companies will also refer relevant business to each other.
STOCK MOVE: Brooks Macdonald shares at 0858 GMT were down 0.3% at 1700.0 pence.
Do you want to apply for STOCK LOAN: SECURITIES-BASED LENDING? Our Lending Size Range is: USD1MM to USD1B+; LTV range is 40% to 70%; Annual Interest Range is: 2.95% to 5%; Lending Term is: 2 to 5 Years. Other Collateral could be: Bonds, Notes, Warrants, Bitcoins, Mutual Fund, Real Estate, Aircraft, Jet, Plane, Yacht, etc. If you want to apply, please speak to Mr. Bill Wren through Cell/SMS/WhatsApp: +86 – 186 5206 1897 or WeChat: billwren or via email to: bill(dot)wren#wrencapital(dot)me ( **Notice: When Email, please change ” (dot) ” to ” . ” ; change ” # ” to ” @ ” )
Wren Capital 