The Financial Conduct Authority has approved the change of control of River and Mercantile Group to AssetCo, following the agreement of an all-share acquisition between the two firms at the start of the year.
The approval comes one month after the reverse takeover received 100% shareholder approval at AssetCo's annual general meeting, in what chair Martin Gilbert called a display of "overwhelming support". AssetCo entered a bidding war for River and Mercantile alongside Premier Miton in December last year, but announced its "firm intentions" to purchase the asset management company on 25 January after Premier Miton withdrew from acquisition discussions. Ninety One reverses outflows as profits rise a third Alex Hoctor-Duncan, CEO of River and Mercantile Group, said: "Now we have secured ...
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