The acquisition of NAVES gives BMS exposure to a valuable market, creating a new Financial Division. There is scope for collaboration between NAVES and Shipbroking, broadening its client services. The €24m initial consideration will be met by cash, Convertible Loan Notes (CLNs) and shares. Earnouts of up to €11m are in CLNs. The cash element will be financed from existing debt. The deal is expected to be immediately earnings enhancing. Prior to the General Meeting, we have put our r
07 Sep 2017
Acquisition of NAVES Corporate Finance GmbH
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Acquisition of NAVES Corporate Finance GmbH
Braemar PLC (BMS:LON) | 274 6.9 0.9% | Mkt Cap: 90.4m
- Published:
07 Sep 2017 -
Author:
Peter Ashworth -
Pages:
2
The acquisition of NAVES gives BMS exposure to a valuable market, creating a new Financial Division. There is scope for collaboration between NAVES and Shipbroking, broadening its client services. The €24m initial consideration will be met by cash, Convertible Loan Notes (CLNs) and shares. Earnouts of up to €11m are in CLNs. The cash element will be financed from existing debt. The deal is expected to be immediately earnings enhancing. Prior to the General Meeting, we have put our r