Frankfurt, April 28, (dpa/GNA) – Leading German lender Deutsche Bank AG has said that it will buy British institutional stockbroker and corporate advisor Numis in a deal estimated to be worth £410 million ($511 million).
Deutsche Bank said on Friday that the deal will see each Numis shareholder entitled to receive 350 pence per share, valuing the entire issued and to be issued share capital at around £410 million.
“The transaction will allow Deutsche Bank to accelerate its Global Hausbank strategy by unlocking a much deeper engagement with the corporate client segment in the UK, enabling Deutsche Bank to become a leading provider to more than 170 corporate clients for their comprehensive financial and advisory needs,” Deutsche Bank said in a statement.
The transaction value represents a premium of 72% on the closing price of 204 pence per Numis share on April 27, and a premium of 60% on the volume-weighted average price of 219 pence per Numis share for the three-month period ended on the same day.
Deutsche Bank said that an interim dividend of 6 pence per Numis share for the six months period to March 31, which is not conditional, whereas an additional interim dividend of 5 pence per Numis share is conditional upon the transaction becoming effective.
GNA