Aberdeen Asset Management acquires Artio Global

Aberdeen Asset Management has reached an agreement to acquire 100 per cent of the share capital of Artio Global Investors, a publicly-listed asset management holding company.

Aberdeen Asset Management has reached an agreement to acquire 100 per cent of the share capital of Artio Global Investors, a publicly-listed asset management holding company.

The purchase consideration of approximately $175m (around £112m) is based on a price of $2.75 per share and represents a premium of $34m (£22m) over Artio's unaudited net asset value at December 31st.

Artio is debt-free and had a net asset value of $141m (£90m) and cash and seed investments of $136m (£87m) on its balance sheet at the end of 2012.

A financial update from Aberdeen Asset Management reported that the purchase price would be payable in cash, financed out of Aberdeen's existing cash resources, on completion of the transaction.

The acquisition is expected to expand Aberdeen's North American business, deepen its distribution network in the region and add to its existing fixed income capabilities.

As of December 31st, Artio managed assets of approximately $14.3bn (£9.2bn) on behalf of a diversified retail and institutional client base.

MF

Recommended

Has the “jam tomorrow” bubble popped already?
Stockmarkets

Has the “jam tomorrow” bubble popped already?

Fund managers have had a good year so far. John Stepek looks at what to expect from markets until year end.
6 Dec 2021
Three stocks that should profit from the dash for digital growth
Share tips

Three stocks that should profit from the dash for digital growth

Professional investor Christopher Versace of the Digital Infrastructure and Connectivity UCITS ETF picks three digital growth stocks to buy now.
6 Dec 2021
JD Wetherspoon: why investors should head to the pub
Trading

JD Wetherspoon: why investors should head to the pub

Pub group JD Wetherspoon is a solid operator, and is due a bounce when the pandemic eases. Matthew Partridge picks the best way to play it.
6 Dec 2021
Share tips of the week – 3 December
Share tips

Share tips of the week – 3 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
3 Dec 2021

Most Popular

Three safe bets on the growing online gambling sector
Share tips

Three safe bets on the growing online gambling sector

Professional investor Aaron Fischer, creator of the Fischer Sports Betting and iGaming ETF, picks three of his favourite online gambling stocks.
29 Nov 2021
Making sense of the new minimum pension age rules
Pensions

Making sense of the new minimum pension age rules

The rules surrounding the minimum age at which you can start tapping into your retirement savings have been tweaked, but are still confusing. David Pr…
23 Nov 2021
Bubbles grow in global property markets as house prices continue to rise
Property

Bubbles grow in global property markets as house prices continue to rise

House prices grew by 6% in the year to mid-2021 in 25 global cities, with the German property market in particular showing signs of overheating.
3 Dec 2021