AssetCo agrees £4.1m acquisition of Ocean Dial Asset Management

Deal sees asset manager add emerging markets capabilities

James Baxter-Derrington
clock • 1 min read

AssetCo has reached an agreement to acquire the entire issued share capital of Ocean Dial Asset Management for a total consideration of £4.1m.

The deal will see the Martin Gilbert-chaired asset manager add emerging markets capabilities to its repertoire, with a particular focus on India, bringing the India Capital Growth Fund investment trust under the River and Mercantile banner. Split between cash and shares, the offer will see AssetCo purchase 2,928,258 ordinary shares of ODAM for a penny each, with the remainder of the offer satisfied by £2.1m in cash. Of this, 732,065 shares and £500,000 will be deferred until after the calendar year, in accordance with the provisions of the sale and purchase agreement. Subject to re...

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