Deutsche Bank to buy British stockbroker Numis for $511 mln (updated)
28/04/2023 07:53
(Adds Deutsche Bank comment, background)
April 28 (Reuters) - Deutsche Bank DBKGn.DE said on
Friday it had agreed to buy Numis Corp NUM.L , a London-based
institutional stockbroker and corporate adviser, for about 410
million pounds ($511.2 million) as the German company deepens
links with the UK corporate client segment.
The 350 pence-per-share, all-cash offer represents a premium
of 72% to Numis stock's Thursday close.
Numis recommended the offer, which comprises 339 pence
in cash, an interim dividend of 6 pence per Numis share for the
six months ended March 2023 and an additional interim dividend
of 5 pence per share.
"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," Deutsche Bank said
in a statement.
As part of its Global Hausbank strategy, Deutsche Bank as
the leading bank in Germany with strong European roots, aims to
become a "global local bank" - the first point of contact in
all financial matters.
Deutsche Bank said it will combine its existing UK and
Ireland corporate finance business with Numis and intends to
co-brand with Numis for the relevant UK activities.
The UK is the largest investment banking market in Europe
and Numis is a diversified investment bank with a leading UK
franchise.
($1 = 0.8021 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Savio D'Souza and Lincoln Feast)
((abyjose.koilparambil@thomsonreuters.com; +917483275231;))