Acquisition4 May 2023 08:26
LONDON, May 4 (Reuters) - British asset manager Liontrust said on Thursday it had conditionally agreed to acquire GAM Holding AG, in a deal that values the entire issued share capital of the Swiss asset manager at CHF 107 million ($121.26 million).
The GAM board recommended the transaction earlier on Thursday, adding that clients would benefit from access to a broader range of strategies, services and stability that the financial strength of the combined firm would bring.
The transaction, which is expected to complete in the final quarter, will create a global asset manager with 53 billion in assets under management.