The Gap Partnership

F&C looks to push on with acquisition

F&C Asset Management Plc finalising the acquisition of rival firm Thames River Capital.

28 April 2010

F&C Asset Management Plc is in the process of finalising negotiations for the acquisition of rival firm Thames River Capital.

The acquisition has been interpreted as a move to catalyse its progression into higher-margin business, according to Reuters.

The company's progression would also allow the firm to bring an end to what has been a difficult period.

It is understood the acquisition, which will be funded through share placing, will see F&C pay £33.6 million for a 40 per cent share of Thames River's profits.

The remaining profits will be shared among Thames River staff.

F&C chief executive Alain Grisay said: "In Thames River, we have found an attractive and entrepreneurial business which will accelerate the transformation of F&C," reports the news provider.

He went on to say that he expected the acquisition, which he described as a "compelling one", to bolster earnings for the first full financial year after the acquisition.

The merger is expected to close by the third quarter of 2010.

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