F&C Asset Management’s proposed acquisition of London-based Thames River Capital
|May 11th, 2010||
|F&C Asset Management plc announced that it has reached a conditional agreement to acquire the Thames River Capital group in a deal as large as £53.6 million. The conditional agreement includes an initial consideration of £33.6 million and an additional £20 million for conditional consideration. The Board of F&C sees the acquisition as an opportunity to advance the group’s development of a diversified, multi-specialty asset management firm through both organic growth and opportunistic acquisitions.|
F&C anticipates that the acquisition will create value for shareholders by enhancing earnings, broadening the group’s range of specialist products, and increasing cross-selling opportunities.
“Following our successful acquisition of REIT Asset Management in 2008, this acquisition represents an important milestone in the development of our multi-specialist business model,” stated F&C CEO Alain Grisay.
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