SPECIALIST investment and banking group, Investec, plans to buy the remaining shares in British firm Rensburg Sheppards that it does not own, for the equivalent of £412m, to boost its wealth and asset management activities.
Rensburg Sheppards also operates in markets favoured by Investec, such as private client business for high net worth individuals and charity fund. The deal has the support from Schroders Investment Management and BlackRock Investment Management, which hold 7,7% and 2,9% of Rensburg Sheppards respectively.
Investec intended to retain Rensburg Sheppards’ brand in order to maximise the opportunity in the UK onshore market.
http://www.businessday.co.za/articles/Content.aspx?id=105036
www.directinvestment.biz
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