Post by account_disabled on Dec 20, 2023 21:57:11 GMT -6
Royal Bank of Canada proposes to acquire Brewyn Dolphin. Deal aims to create a leading wealth management provider in the UK. Channel Islands and Ireland Royal Bank of Canada (RBC) has announced that it will acquire Brewin Dolphin, subject to shareholder approval. shares of Brewin Dolphin Holdings PLC (“Brewin Dolphin”) and has received all regulatory approvals. Royal Bank RBC Wealth Management (Jersey) Holdings Limited (“Bidco”), a wholly-owned subsidiary of Royal Bank of Canada has published a Rule 2.7 announcement in the UK under the City Code on Takeovers and Mergers, announcing the cash offer price for all of the share capital it has and will have. Brevin Company Dolphin's price of 515 pence per share indicates a total equity value of approximately C$2.6 billion (£1.6 billion), based on the average share price taking into account all post-offer effects ( Brewyn Dolphin is one of the UK's leading independent providers of discretionary wealth management services in the UK and Ireland.
With a network of over 30 offices and Job Function Email Database total assets under management of £59 billion as of 31 December 2021, Brewyn Dolphin has delivered an impressive performance of growth and innovation. and has a long history of providing superior customer service and strong investment performance. Doug Guzman, President of Royal Wealth Management, Insurance and Investment Services Bank of Canada Mentioned this acquisition: “The UK is an important growth market for Royal Bank of Canada and Brevin Dolphin is an excellent platform for transforming our wealth management business in the region. This is because Royal Bank of Canada Wealth Management is ranked #3 in the UK and Ireland market. It is also the market leader in Canada. and has a growing position in the United States. By combining these two highly complementary businesses We will increase the depth and breadth of our services and the profile of the combined business. “The management teams of both companies are excited about our shared vision of high quality client service. Customer-centric culture and the great growth opportunities we can achieve together.
We aim to continue investing in this combined business and take it to even higher levels. We are confident that this acquisition will bring mutual benefits to our customers, employees and stakeholders,” said David Thomas, CEO of Royal Bank of Canada Capital Markets Europe. and President of Wealth Management said, “This is a transformational acquisition for Royal Bank of Canada Wealth Management and strengthens Royal Bank of Canada's position as a leader. Marketplace across multiple UK business platforms Channel Islands and Europe. We look forward to welcoming Brevin Dolphin employees and customers and working together to leverage Royal Bank of Canada's global reach and key competencies in creating new growth opportunities for these combined businesses,” said Robin Beer, CEO of Brevin Dolphin. “The Brevin Board of Directors Dolphin is pleased to present this Royal Bank of Canada offering for the benefit of our shareholders, our customers, and our people. and our business partners.
With a network of over 30 offices and Job Function Email Database total assets under management of £59 billion as of 31 December 2021, Brewyn Dolphin has delivered an impressive performance of growth and innovation. and has a long history of providing superior customer service and strong investment performance. Doug Guzman, President of Royal Wealth Management, Insurance and Investment Services Bank of Canada Mentioned this acquisition: “The UK is an important growth market for Royal Bank of Canada and Brevin Dolphin is an excellent platform for transforming our wealth management business in the region. This is because Royal Bank of Canada Wealth Management is ranked #3 in the UK and Ireland market. It is also the market leader in Canada. and has a growing position in the United States. By combining these two highly complementary businesses We will increase the depth and breadth of our services and the profile of the combined business. “The management teams of both companies are excited about our shared vision of high quality client service. Customer-centric culture and the great growth opportunities we can achieve together.
We aim to continue investing in this combined business and take it to even higher levels. We are confident that this acquisition will bring mutual benefits to our customers, employees and stakeholders,” said David Thomas, CEO of Royal Bank of Canada Capital Markets Europe. and President of Wealth Management said, “This is a transformational acquisition for Royal Bank of Canada Wealth Management and strengthens Royal Bank of Canada's position as a leader. Marketplace across multiple UK business platforms Channel Islands and Europe. We look forward to welcoming Brevin Dolphin employees and customers and working together to leverage Royal Bank of Canada's global reach and key competencies in creating new growth opportunities for these combined businesses,” said Robin Beer, CEO of Brevin Dolphin. “The Brevin Board of Directors Dolphin is pleased to present this Royal Bank of Canada offering for the benefit of our shareholders, our customers, and our people. and our business partners.