14th Sep 2020 21:26
Metro Bank PLC - London-based lender - Receives all regulatory and shareholder approvals needed to complete acquisition of Retail Money Market Ltd, known as RateSetter. Metro agreed to buy peer-to-peer lender RateSetter in early August for up to GBP12.0 million and will pay an initial GBP2.5 million, with an additional consideration of up to GBP500,000 payable 12 months after the acquisition's completion, and a further payment of GBP9 million due on the third anniversary of completion, subject to key performance milestones being met.
Current stock price: 91.56 pence
Year-to-date change: down 56%
By Anna Farley; [email protected]
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