Investec W&I UK merges with Rathbones in £839m deal

£100bn combined assets

clock • 2 min read

Rathbones and Investec's UK wealth arm have merged to create a combined discretionary wealth manager with £100bn in investor assets, under the banner of an ‘enlarged Rathbones Group’.

Under the terms of the merger, which is being called a ‘combination' by the two companies, new Rathbones shares will be issued in exchange for 100% of Investec W&I UK's share capital.  The new company will operate under the Rathbones brand with Investec Group as a long-term, strategic shareholder. The deal implies an equity value of approximately £839m for Investec W&I UK. Following its completion, Investec Group will have an economic interest in Rathbones' enlarged share capital of 41.25%, with Investec Group's voting rights limited to 29.9% of Rathbones' enlarged total voting rights...

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

Join now

 

Already an Investment Week
member?

Login

More on Companies

BlackRock eyes minority stake in hedge fund Millennium – reports

BlackRock eyes minority stake in hedge fund Millennium – reports

Early-stage talks

Cristian Angeloni
clock 08 November 2024 • 1 min read
FE fundinfo expands regulatory reporting offering with European acquisition

FE fundinfo expands regulatory reporting offering with European acquisition

Matterhorn Reporting Services

Cristian Angeloni
clock 06 November 2024 • 1 min read
Schroders shares nosedive 14% on £10bn outflow warning

Schroders shares nosedive 14% on £10bn outflow warning

Net outflows of £2.3bn in the quarter

Valeria Martinez
clock 05 November 2024 • 2 min read
Trustpilot