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AssetCo agreed to acquire Saracen Fund Managers for £2.75m
StockMarketWire.com
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AssetCo said it had reached an agreement to acquire Saracen Fund Managers for £2.75 million.
Saracen is an independent, FCA regulated, fund management business based in Edinburgh that was founded in the late 1990s.
'The board of the company believes that there exist significant opportunities to enhance the distribution and appeal of Saracen's existing funds and to widen the funds offered by Saracen to include immediate adjacencies,' the company said.
'Finally, Saracen offers the company the opportunity to acquire a FCA regulated entity and the associated authorisations, subject to FCA change in controller approval,' it added.
At 9:44am: (LON:ASTO) AssetCo PLC share price was 0p at 411p
Story provided by StockMarketWire.com
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