Brief: Sequoia Financial's Unit Signed Sale Agreement To Provide Wealth Management Solutions

Yellow Brick Road Holdings

27/12/2019 01:01

Dec 27 (Reuters) - Sequoia Financial Group Ltd  SEQ.AX :
    * UNIT SIGNED A SALE AGREEMENT AND CROSS REFERRAL AGREEMENT
TO
PROVIDE WEALTH MANAGEMENT SOLUTIONS TO YELLOW BRICK ROAD GROUP
    * SEQUOUNIT IS BUYING YBR'S SHARE OF RIGHTS TO RECURRING
REVENUE
STREAMS CURRENTLY DERIVED FROM WEALTH ADVICE AND LIFE INSURANCE
BUSINESS
    * DEAL FOR $2.5M
    * DEAL TO RESULT IN ADDITIONAL $10M GROSS REVENUE / $0.6M
EBIT
OVER FIRST 12 MTHS IF ALL SELECTED YBR ADVISERS TRANSFER TO UNIT

Source text https://reut.rs/2PZhnSP
Further company coverage:  SEQ.AX 

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