AssetCo has reached an agreement to acquire the entire issued share capital of Ocean Dial Asset Management for a total consideration of £4.1m.
The deal will see the Martin Gilbert-chaired asset manager add emerging markets capabilities to its repertoire, with a particular focus on India, bringing the India Capital Growth Fund investment trust under the River and Mercantile banner. AssetCo enters partnership to bring funds to the US Split between cash and shares, the offer will see AssetCo purchase 2,928,258 ordinary shares of ODAM for a penny each, with the remainder of the offer satisfied by £2.1m in cash. Of this, 732,065 shares and £500,000 will be deferred until after the calendar year, in accordance with the provisio...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes