24th Nov 2021 12:02
River & Mercantile Group PLC - London-based asset manager - Decides the amount it will return to shareholders from the disposal of its solutions business will be GBP180 million. This is 80% of the GBP228 million it expects to receive from the sale of its UK Advisory, Fiduciary Management & Derivatives business to Schroder PLC. Calls December 13 general meeting to approve the sale. Return will be via a tender offer for River & Mercantile shares "or by other means". On Tuesday, Premier Miton Group PLC and AssetCo PLC both confirmed making approaches to buy the remainder of the River & Mercantile business after the sale of the solutions business, saying any offers would be conditional on the disposal completing.
Current stock price: 319.36 pence, up 3.0% on Wednesday
Year-to-date change: up 85%
By Tom Waite; [email protected]
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Related Shares:
SchrodersRIV.LAssetcoPremier Miton