June 6, 2016 / 6:42 AM / 2 years ago

RPT-Dutch trust operator Intertrust buys Elian for 435 million pounds

(Repeats to add Reuters Instrument Code for Electra)

AMSTERDAM, June 6 (Reuters) - Intertrust plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm said on Monday.

Intertrust will pay for the deal through a mix of cash, shares and assumed debt, and said the purchase would increase group earnings by 20 percent per share by 2018, due to cost savings and cross-selling advantages.

Intertrust said that Elian expects full-year 2017 revenue of 96 million pounds ($138.00 million) and earnings before interest, taxes, depreciation and amortisation of 36 million pounds.

Reporting by Toby Sterling, editing by Louise Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below