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Brewin Dolphin Holdings (LON:BRW) - Portfolio tidying

Wednesday, Feb 16 2011 by

Feb 16th 2011 - Edison Investment Research today published a report on Brewin Dolphin Holdings (BRW.L, LSE:BRW, LON:BRW) entitled "Portfolio Tidying". In summary, the report says:

Brewin Dolphin announced the proposed sale of its Corporate Advisory and Broking division to management and financial backers. On our estimates, the unit represented less than 5% of group revenues and profits, and the strategic synergies of being part of Brewin Dolphin (BD) were modest. The consideration is £1m cash and a 14% preferred interest in the new entity (valued at £4m) which is expected to be held for the long term. The latter has some upside for BD if the unit outperforms expectations.




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Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »