June 7, 2017 / 5:37 AM / 2 months ago

BRIEF-Van lanschot acquires UBS's domestic wealth management activities in Netherlands

1 Min Read

June 7 (Reuters) - VAN LANSCHOT NV:

* ACQUIRES UBS'S DOMESTIC WEALTH MANAGEMENT ACTIVITIES IN NETHERLANDS

* VAN LANSCHOT KEMPEN AND UBS EXPECT TO COMPLETE TRANSACTION IN Q3 OF 2017.

* VAN LANSCHOT KEMPEN WILL PAY AN INITIAL ACQUISITION PRICE OF EUR 28 MILLION FOR ACTIVITIES TO BE ACQUIRED

* FINAL PRICE MAY BE HIGHER OR LOWER DEPENDING ON AUM AMOUNT THAT WILL ACTUALLY TRANSFER TO VAN LANSCHOT KEMPEN

* TRANSACTION COMPRISES CLIENT RELATIONSHIPS AND EMPLOYEES OF WEALTH MANAGEMENT ACTIVITIES OF UBS NETHERLANDS, A BRANCH OF UBS EUROPE SE

* TRANSACTION ALSO COMPRISES PRODUCTS AND SERVICES OF NETHERLANDS BRANCH OF UBS EUROPE SE Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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