RBG Holdings PLC - London-based law firm - Acquires London legal services provider Memery Crystal LLP for GBP30.0 million. Notes the acquisition comprises GBP12 million in cash, GBP11.2 million in RBG shares and a further GBP6.8 million in cash deferred across 12 months. RBG expects the transaction to be immediately, and materially, earnings and value-enhancing.
"Today's acquisition of Memery Crystal is another significant step in the group's development. Memery Crystal is a complementary fit with our existing law firm, RBL. We believe the acquisition will be transformative in terms of the scale of our business. Memery Crystal is a very successful firm, which combined with our commercial focus on margin and cash, can be even more profitable," says RBG Chief Executive Nicola Foulston.
Current stock price: 129.40 pence, up 7.8% on Tuesday
Year-to-date change: up sharply from 59.00p on December 31
By Zoe Wickens; zoewickens@alliancenews.com
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Rbg Holdings (RBGP)