Deutsche Bank has come to an arrangement on the conditions of a proposed all-money bid to obtain Numis Corporation Plc.
Under the deal, Numis shareholders are eligible for a payment of 350 pence for each share, which values Numis at about £410 million.
Numis is a top British company specializing in corporate broking and consultancy services. It offers strategic guidance and access to capital markets for 166 clients, including a large portion (20%) of the FTSE 350.
The Administration of Deutsche Bank and the Board of Numis are both confident that this partnership is an exciting prospect to join Deutsche Bank’s British and Irish corporate finance business with Numis to create a powerful force in UK investment banking.
The association will have a prominent spot in:
- Corporate broking
- Advisory (which includes M&A and growth capital)
- Equity and debt capital markets
- Equity research
- Sales
- Execution
And it will also allow Deutsche Bank to use its global products across the Corporate Bank and International Private Bank.
The Board of Numis is planning to suggest the Transaction to Numis shareholders unanimously. Deutsche Bank has been given an unchangeable promise from Numis’ most important investor to vote in favor of the Transaction.
The completion of this transaction is anticipated to take place during the fourth quarter of 2023. Pending certain requirements such as Numis shareholders’ authorization and the gaining of regulatory clearances.
At the end of Q4 2023, Deutsche Bank believes that the transaction will make a positive effect on their earnings per share from 2024 and will result in a high return for the capital that is used. The impact on the CET1 ratio at closing is estimated to be around a decrease of 9 basis points.
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