December 17, 2014 / 7:22 AM / 3 years ago

BRIEF-Man Group to buy Silvermine Capital

Dec 17 (Reuters) - Man Group Plc

* Acquisition of Silvermine Capital Llc

* Has entered into a conditional agreement to acquire Silvermine Capital with $3.8 bln of funds under management as of Nov. 30 2014

* Acquisition is expected to complete in 1st qtr of 2015

* Silvermine will be integrated into Man GLG and will operate under Man GLG Silvermine name

* Upfront payment of $23.5 mln, paid in cash from existing resources upon completion of transaction

* Regulatory capital requirement associated with acquisition is expected to be approximately $45 mln

* Berkshire Capital Securities Llc is acting as financial adviser to Silvermine

* Two earn out payments - after one year up to $16.5 mln, and after five years, up to $30 mln Source text for Eikon: Further company coverage:

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