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Birmingham Post
Birmingham Post
Business
Coreena Ford

Brewin Dolphin to be acquired by Royal Bank of Canada in £1.6bn deal

Wealth manager Brewin Dolphin is set to be acquired by the Royal Bank of Canada in a deal valuing the business at £1.6bn.

The investment specialist, which has a network of offices around the UK and Ireland including a strong presence in Newcastle, has recommended an offer to shareholders by RBC Wealth Management (Jersey) Holdings Limited, a subsidiary of Royal Bank of Canada.

The two firms announced they have reached agreement on the terms of a recommended all cash offer, through which shareholders will be entitled to 515p per Brewin Dolphin share. The deal values Brewin Dolphin at 2.8% of its £55bn assets under management as of February 28 2022.

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