Investec is acquiring the Evolution Group for £233.2 million, The Wall Street Journal reports. The deal, which prices the shares at 100.24 pence a unit, had also been considered by suitors such as Canadian investment bank Canaccord Financial.
The acquisition will mark a few staff adjustments in the investment banking division. BlackRock Investment Managers and Majedie Asset Management together own an 11.7 percent stake in Evolution. Investec Investment Banking is acting on behalf of Investec, while Credit Suisse is representing Evolution.
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