2 days ago
UK investment firms Hansa, Ocean Wilsons agree to merge in all-share deal
July 28 (Reuters) - UK's Hansa Investment (HAN.L), opens new tab and Ocean Wilsons Holdings (OCN.L), opens new tab have agreed to an all-share merger to create a diversified investment firm with more than 900 million pounds ($1.21 billion) in net assets, the companies said on Monday.
Ocean Wilsons' shareholders will get 1.4925 new Hansa share units, comprising one voting share and two non-voting 'A' shares, for each share they own, the companies said in a joint statement.
Hansa shareholders will hold approximately 58.6% of the combined entity, while Ocean Wilsons shareholders will own the remaining 41.4%.
"While global markets remain challenging, we believe that the combined group's unconstrained multi-asset approach will provide a differentiated and diversified investment proposition," Hansa Chair Jonathan Davie said.
The companies had disclosed last month that they were in talks over a potential merger.
($1 = 0.7451 pounds)
