F&C looks to push on with acquisition
F&C Asset Management Plc finalising the acquisition of rival firm Thames River Capital.
F&C Asset Management Plc is in the process of finalising
negotiations for the acquisition of rival firm Thames River
The acquisition has been interpreted as a move to catalyse its
progression into higher-margin business, according to Reuters.
The company's progression would also allow the firm to bring an
end to what has been a difficult period.
It is understood the acquisition, which will be funded through
share placing, will see F&C pay £33.6 million for a 40 per cent
share of Thames River's profits.
The remaining profits will be shared among Thames River
F&C chief executive Alain Grisay said: "In Thames River, we
have found an attractive and entrepreneurial business which will
accelerate the transformation of F&C," reports the news
He went on to say that he expected the acquisition, which he
described as a "compelling one", to bolster earnings for the first
full financial year after the acquisition.
The merger is expected to close by the third quarter of