1st Mar 2021 10:20
(Alliance News) - Polar Capital Holdings PLC on Monday said it has completed the acquisition of Dalton Capital Holdings Ltd following receipt of approval from the UK Financial Conduct Authority.
The London-based investment management company said the initial consideration for the acquisition was for GBP8.5 million in cash and 7,482 shares in Polar Capital, which are worth about GBP50,000. Further deferred cash consideration of GBP7.1 million is payable 12 months after completion.
Shares in Polar Capital were up 1.5% at 670.15 pence in London on Monday.
Polar Capital said the acquisition is in line with its growth strategy of adding a European investment team complementary to its existing European Income team.
The company will begin integrating Dalton onto its platform immediately, and anticipates it to be completed within six months.
"The completion of Dalton is the next step in Polar's growth and diversification strategy. Dalton's highly experienced investment teams are an excellent addition to Polar Capital, and I am very much looking forward to working with them," said Polar Capital Chief Executive Gavin Rochussen.
By Zoe Wickens; [email protected]
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