Business
Acquisition of OTC Valuations Limited
Acquisition of OTC Valuations Limited.
About this update from Tp Icap Group Plc
[{"type":"text","content":"\n \n5th March 2010\n\n Tullett Prebon plc \n\n Acquisition of \n\n OTC Valuations Limited \n\nTullett Prebon plc announces that it has reached agreement to acquire OTC\nValuations Limited (\"OTC Val\"), a provider of independent derivative valuation\nservices based in Vancouver, British Columbia, Canada.\n\nThe initial consideration for the acquisition is US$0.6 million (approximately\n£0.4 million) payable in cash, with deferred consideration up to a maximum of\nUS$1.4 million (approximately £0.9 million) payable in cash subject to\nachievement of certain future revenue targets.\n\nOTC Val is being sold by its management shareholders, Miroslav Vanous, Robert\nSangha and Paul Bergbusch and other shareholders, being : David Bergbusch, John\nBergbusch, John Stingl, Gurdeep Gill, Adela Vanous, George Vanous Jr, Rizwan\nGehlen, Martin Drobny, Vlasta Drobny, Curtis Pyke, Gerald Pyke, Waldon Bent,\nSean Y Hwang, Lena Lai and Killarney Securities Corporation.\n\nThe acquisition is expected to be completed on or about March 17, 2010.\n\nENDS\n\nFor further information please contact:\n\nInvestors and Analysts Press\n\nNigel Szembel, Head of Communications Charlotte Kirkham\n\nTullett Prebon plc M:Communications\n\n44 (0)7802 362088 44 (0)207 920 2331\n\[email protected] [email protected]\n\n\n \n ","length":1793,"tagName":"div"}]