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Brooks Macdonald Group Plc signs option agreement to acquire Levitas Investment Management Services

Friday, 20 Dec 2013 02:00am EST 

Brooks Macdonald Group Plc:Says it has signed a Put and Call Option Agreement (the Option Agreement) with the shareholders of Levitas Investment Management Services Limited (Levitas) in respect of the sale and purchase of the entire issued share capital of Levitas.Says Levitas is the sponsor of two funds known as TM Levitas A and TM Levitas B.Says Brooks Macdonald Asset Management Ltd (BMAM) is the investment adviser to the funds.Says the purchase of Levitas will enable Brooks Macdonald Group to extend its investment proposition while further enhancing its ability to meet a range of client attitudes to risk.Says the acquisition also complements the Group's growth strategy by providing an extension to BMAM's existing investment approach and product proposition.Says the Group will incur costs of about 150,000 pounds in the year ending June 2014 to complete the transaction. 

Company Quote

-45.5 -3.21%
27 Aug 2014