Investec set to close £233m takeover deal

ONE of the City’s oldest firms looks set to be snapped up by South Africa’s Investec after a deal valuing its owner at £233m.

ONE of the City’s oldest firms looks set to be snapped up by South Africa’s Investec after a deal valuing its owner at £233m.

Williams de Broe, formed in 1869 and which manages about £6bn of funds for wealthy private clients, has been part of Evolution Group since 2006.

The wealth management business is seen as a major prize for Investec following its takeover of rival Rensburg Sheppards for £412m last year.

Evolution Securities, the other half of the Evolution business, is a specialist broker and finance house focused on the mid-cap corporate broking and research markets.

Boss Alex Snow, a former rugby player for England and Harlequins, said Investec represented a good home for the two main businesses.

 
comments powered by Disqus

Journalists

Doug Thomson
Huddersfield Town correspondent
Chris Roberts
Huddersfield Giants correspondent
Louise Cooper
Crime correspondent
Nick Lavigueur
Health Correspondent
Joanne Douglas
Local Government Correspondent
Linda Whitwam
Education Correspondent
Henryk Zientek
Business Correspondent
Val Javin
Features Editor
Martin Shaw
Mirfield Correspondent