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Alternative Market Briefing

Schroders to acquire UK firm Cazenove Capital for around £424m ($645m)

Monday, March 25, 2013

Benedicte Gravrand, Opalesque Geneva: - This morning, the boards of Schroders plc and Cazenove Capital Holdings Ltd reached agreement on the terms of the recommended acquisition by Schroders of Cazenove Capital. The acquisition is subject to shareholder and regulatory approval.

This follows a discussion, officially announced on Friday (22 March, 2013), of a possible cash offer by Schroders, with loan note alternative, for the entire issued ordinary share capital of Cazenove Capital.

This morning’s announcement confirms Cazenove’s shareholders would be entitled to receive 135 pence in cash per ordinary share, and that the acquisition would total around £424m ($645.7m).

Cazenove Capital, established in 1823, is an independent investment company with £18.7bn of AuM (as at 28th February, 2013), which manages investment funds and performs wealth management duties. The asset management part of the business formed a joint venture with JP Morgan in 2005 and demerged later, before acquiring private wealth management company Thornhill Holdings in 2010.

Schroders is a 200-year old global asset managem......................

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