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Insider UK
Insider UK
John Glover

Martin Gilbert's AssetCo agrees £100 million price for River and Mercantile

AssetCo has agreed an all-share acquisition of wealth manager River and Mercantile Group (RMG) for £98.8m.

The deal values each share of RMG at 114.6 pence, based on the closing price of 1,550 pence per AssetCo share on 24 January.

The terms are contingent on the previously agreed sale of RMG's fiduciary business to Schroders for £230m, which was agreed in October. It will see shareholders receive £190m in cash - taking the value of the entire deal to £289m.

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