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BRIEF-Azimut unit buys Farrow Hughes Mulcahy in Australia
August 24, 2017 / 9:54 AM / 3 months ago

BRIEF-Azimut unit buys Farrow Hughes Mulcahy in Australia

Aug 24 (Reuters) - AZIMUT:

* AUSTRALIAN UNIT ACQUIRES FARROW HUGHES MULCAHY REACHING EUR 3.8 BILLION IN TOTAL AUM

* AGREEMENT INCLUDES SHARE SWAP OF 49% OF FARROW HUGHES MULCAHY‘S EQUITY FOR AZ NGA (AZIMUT‘S UNIT) SHARES AND PROGRESSIVE BUY BACK OF THESE SHARES OVER NEXT TEN YEARS

* PURCHASE PRICE IS EQUAL TO EUR 6.2 MILLION

* REMAINING 51% STAKE TO BE PAID TO FOUNDING PARTNERS IN CASH OVER A PERIOD OF TWO YEARS Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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