13th Oct 2023 11:45
(Alliance News) - Numis Corp PLC shares were suspended on Friday morning upon completion of its acquisition by Deutsche Bank AG, to create new investment brand Deutsche Numis.
The London-based investment bank announced in late April that it had accepted Frankfurt-based Deutsche Bank's GBP410 million or 350 pence per share cash takeover offer.
Numis' AIM listing is set to be cancelled on Monday. Deutsche Bank shares were down 1.7% at EUR9.94 in Frankfurt.
Deutsche Bank said the combined business will be known as Deutsche Numis, "a leading force in UK investment banking and the adviser of choice for UK listed companies".
Numis's former Chair Luke Savage will remain on the Deutsche Numis board, while Alex Ham and Ross Mitchinson will continue to serve as co-chief executive officers.
"Continuing to deliver for our people and our clients will be at the heart of Deutsche Numis," Mitchinson said, "and we are confident that the professionalism, high performance, and client service that has long underpinned both companies will only be further enhanced by this combination.
"We look forward to continuing to build our position in UK investment banking, enhanced by the scale and strength of Deutsche Bank, including the ability to draw on a global industry capability and a broader array of financing solutions."
By Emma Curzon, Alliance News reporter
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