Canaccord Genuity to acquire Punter Southall Wealth

On closing the deal, £163m will be paid to Punter Southall Group, alongside an equity interest comprising newly-issued shares in CWGM UK, it was announced today. Punter Southall Wealth will be acquired by CGWM UK with a minimum level of regulatory capital, with any surplus distributed to PSG by way of a pre-completion dividend. In addition, there will be retention and incentive awards comprising cash and equity in CGWM UK with a combined attributed value of approximately £6m. On closing of the acquisition, it is also expected that CGWM UK will add £100m to its existing bank facilit...