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MHA PLC - Milton Keynes-based provider of audit, tax, accountancy and advisory services - Says it agreed on Friday to acquire audit practice Moore Stephens LLC and tax and consulting services firm Moore Stephens Consulting LLC, both commonly controlled businesses operating in the United Arab Emirates and jointly known as MS UAE. MS UAE is headquartered in Dubai and is approved to provide services across all major UAE free zones. MHA expects to pay total consideration of 36د.إ million, around £7.4 million, with an initial 30د.إ million payment due upon completion. Consideration will be settled half through cash and half in shares worth 154.5 pence each. MHA notes that for 2025 MS UAE projects revenue of around 31.8د.إ million, up from 27.9د.إ million in 2024. Chief Executive Officer Rakesh Shaunak comments: ‘Strategic M&A continues to be a key enabler of our growth aspirations...the intended acquisition of MS UAE is another step forward in building a larger organisation and an international platform that enhances client service, strengthens our sector capabilities and creates opportunities for our people. MS UAE is a high-quality, well-established practice with strong cultural alignment, and we look forward to updating the market as we progress toward completion.’ Current stock price: 159.78p, up 1.8% on Monday morning in London 12-month change: up 56% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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