River Global to sell asset management arm to Liontrust

River Global has reached a conditional statement to transportation its full plus absorption concern to Liontrust Asset Management.

The woody involves the merchantability of River Global Holdings Limited, the group’s plus absorption holding company.

Under the agreed terms, Liontrust volition wage an archetypal £7.6m ($10.1m) successful shares.

A further outgo of up to £2.1m, besides successful shares, is contingent connected definite gross targets being met wrong a twelvemonth aft completion.

Upon woody completion, River Global’s money absorption operations are acceptable to go portion of Liontrust’s wider scope of offerings.

As portion of the agreement, Martin Gilbert, presently president of River Global, is expected to articulation the Liontrust committee arsenic a non-executive manager aft the merchantability closes.

Since its rebranding from AssetCo successful 2021, River Global has focused connected gathering an plus absorption cognition done respective acquisitions and streamlining its organisational structure.

The Board of River Global has unanimously recommended shareholders o.k. the merchantability astatine an upcoming wide meeting.

Martin Gilbert and Christopher Mills, who unneurotic ain 22.3% of River Global’s shares, person agreed to enactment the transaction and clasp their Liontrust shares for astatine slightest 2 years aft completion.

If shareholder and regulatory approvals are obtained, the merchantability is planned to implicit by 31 August 2026.

With this sale, River Global would nary longer run oregon power immoderate important trading concern oregon assets.

Its shares are expected to beryllium suspended from AIM trading nether marketplace rules, with imaginable cancellation of trading if the suspension lasts much than six months.

Following the transaction, River Global volition not person operating currency travel and volition trust connected funds provided nether the statement for moving capital.

The Board has not confirmed whether it volition question a reverse takeover, re-admission to AIM, oregon cancellation of its AIM listing aft completion.

"River Global to merchantability plus absorption limb to Liontrust" was primitively created and published by Private Banker International, a GlobalData owned brand.

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