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BRIEF-Arbuthnot unit to buy of Renaissance Asset Finance from founders
December 20, 2016 / 5:21 PM / 10 months ago

BRIEF-Arbuthnot unit to buy of Renaissance Asset Finance from founders

Dec 20 (Reuters) - Arbuthnot Banking Group Plc :

* Arbuthnot Latham has reached an agreement to acquire 100 pct of Renaissance Asset Finance Limited from its founders

* Acquisition remains subject to regulatory approval and completion is therefore expected to take place early in Q2 of 2017

* Says consideration will be paid in four staged amounts, all of which will be in cash

* Says maximum amount payable for performance based payments is limited to no more than 6.5 mln stg

* Both consideration and refinancing of RAF’s funding liabilities (about 66 mln stg) will be satisfied from group’s current cash resources Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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