FirstRand Ltd (FSRJ.J)
23 Nov 2017
* IMPACT OF FIRSTRAND GROUP'S PROPOSED ACQUISITION OF ALDERMORE ON FIRSTRAND BANK LIMITED
* ALDERMORE - CO, FIRSTRAND OFFEROR CONFIRM THEY HAVE ENTERED INTO A DEED OF AMENDMENT TO EFFECT MINOR AMENDMENTS TO COOPERATION AGREEMENT Source text for Eikon: Further company coverage: (Bengaluru Newsroom)
BRIEF-Aldermore says Firstrand acquisition will be effected by means of court-sanctioned scheme of arrangement
* INTENDED THAT ACQUISITION BY FIRSTRAND WILL BE EFFECTED BY MEANS OF COURT-SANCTIONED SCHEME OF ARRANGEMENT
LONDON South African lender FirstRand has agreed a 1.1 billion pound ($1.3 billion) takeover of British banking newcomer Aldermore Group to boost its business in developed markets.
* South African group expands UK business with Aldermore deal
Nov 6 Aldermore Group and South African lender FirstRand said they had agreed on a 1.1 billion pound ($1.31 billion) takeover of the British bank.
* FIRSTRAND, ALDERMORE REACHED AGREEMENT ON RECOMMENDED CASH OFFER TO BE MADE BY FIRSTRAND OFFEROR FOR ALDERMORE
* CONFIRMS IT WILL NOT WAIVE CONDITION ON COMPLETION OF DUE DILIGENCE, BUT CAN ELECT TO WAIVE CONDITION ON UNANIMOUS BOARD RECOMMENDATION Source text for Eikon: Further company coverage:
* Aldermore's shares jump more than 18 pct (Adds industry context)
* CONFIRMS THAT IT HAS MADE AN APPROACH TO ACQUIRE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF ALDERMORE