Business
Acquisition of Majedie Asset Management Limited
Acquisition of Majedie Asset Management Limited.
About this update from Liontrust Asset Management Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7508U\n Liontrust Asset Management PLC\n 07 December 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. \n \n \n \n \n \n DISCLOSURE OF INSIDE INFORMATION ACCORDING TO ARTICLE 17 OF THE UK VERSION OF REGULATION (EU) NO. 596/2014 (WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).\n \n \n \n \n \n This Announcement contains inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 (\"MAR\")\n \n \n \n \n \n LEI: 549300XVXU6S7PLCL855\n \n \n For immediate release\n \n \n 7 December 2021\n \n \n \n \n \n Liontrust Asset Management PLC\n \n \n \n (\n \n \"Liontrust\" or the \"Company\")\n \n \n Proposed Acquisition of Majedie Asset Management Limited\n \n \n \n \n \n Introduction\n \n \n \n \n \n Liontrust, the specialist independent fund management group, today announces that it has entered into a conditional sale and purchase agreement (the \"SPA\") with founder shareholders (the \"Founders\") to purchase (the \"Proposed Acquisition\") the entire issued share capital of Majedie Asset Management Limited (\"Majedie\") for a total consideration of up to £120 million (the \"Consideration\"). \n \n \n Majedie is a well-established, UK-based asset management firm with a long-term pedigree in Institutional fund management, an area of increasing strategic focus for Liontrust. Majedie's assets under management and advice (\"AuMA\") as at 30 November 2021 were £5.8 billion1. Rob Harris, Chief Executive Officer of Majedie, will join Liontrust as Head of Global Institutional Business.\n \n \n The Proposed Acquisition brings to Liontrust the highly rated and experienced Institutional fund management team at Majedie (the \"Majedie Fund Management Team\") headed by James de Uphaugh. On completion of the Proposed Acquisition (\"Completion\"), all of the investment team members will join Liontrust as the Global Fundamental Team and James de Uphaugh will become Head of the Liontrust Global Fundamental Team.\n \n \n Highlights of the Proposed Acquisition include:\n \n \n \n \n \n · \n The Majedie Fund Management Team has vast ex...