Kleinwort Benson completes £26.4m Close deal

The acquisition, announced in March, allows Kleinwort Benson to expand into Guernsey, Jersey and the Isle of Man through Close Offshore Group's (COG) private banking, fund administration, fund management, trust and asset management businesses. All COG entities will be rebranded as Kleinwort Benson. The deal increases Kleinwort Benson's assets under management by £1.6bn and gives it presence on the Isle of Man and in South Africa, with the acquisition of COG's shared service centre in Cape Town. The original acquisition price was set at £29.1m, but was subject to adjustments to the ...