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Kingswood Holdings Ltd - London-based wealth and investment management group - Completes acquisition of Dublin-based financial advice firm Moloney Investments Ltd, following regulatory approval.
In September, Kingswood said the then-proposed acquisition was for a 70% stake in Moloney Investments for a total cash consideration of EUR25.8 million. Kingswood also said it would increase its funds under advice or management to over GBP7.8 billion across the UK and Ireland, and over GBP10 billion overall.
Kingswood Chief Executive Officer David Lawrence said at the time: "[Moloney Investments] provides access to the attractive Irish wealth management market whilst also offering multiple new avenues for growth."
Current stock price: 27.97 pence, up 3.6% on Friday
12-month change: down 3.6%
By Greg Rosenvinge, Alliance News reporter
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