19th Apr 2016 09:16
LONDON (Alliance News) - Investment company Vertu Capital Ltd on Tuesday said it has signed a letter of intent to acquire VCB Malaysia Bhd for GBP350,000 in cash.
Vertu, which floated in London in January 2015 with a view to acquiring a company in the financial services sector, said it will acquire VCB Malaysia from BVS Trinity Sdn Bhd.
VCB is a Malaysia-based management consultant which provides financial consultancy and support services on corporate finance and investment banking matters.
Vertu said it believes VCB fits with its strategy and that it will be able to develop VCB's presence in the Asian market if the deal is successful.
Vertu Capital shares were up 5.1% to 1.07 pence Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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