LONDON (Alliance News) - Eastbridge Investments PLC on Monday said it has agreed terms to acquire US-lender Privilege Wealth PLC, which has developed technology to provide and manage lines of credit and short term loans.
The acquisition of Privilege would constitute a reverse transaction under AIM stock exchange rules, and is subject to shareholder approval.
Eastbridge said "negotiation and due diligence" on the deal are ongoing.
Shares in Eastbridge were suspended from trading on AIM on Monday due to reverse takeover rules.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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