December 19, 2016 / 7:22 AM / a year ago

Brewin Dolphin buy Duncan Lawrie Asset Management

LONDON, Dec 19 (Reuters) - Wealth manager Brewin Dolphin said on Monday it had agreed to buy Duncan Lawrie Asset Management for an initial cash payment of 25.5 million pounds ($31.83 million).

Brewin said the deal would enhance its adjusted earnings in year one and thereafter and would take the group’s total funds under management to 36.1 billion pounds.

The deal, which will also include a payment to reflect the value of net assets in the business of around 2.5 million pounds, would be financed through its internal cash resources, Brewin said. ($1 = 0.8010 pounds) (Reporting by Simon Jessop, editing by Ritvik Carvalho)

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