April 28 (Reuters) – Deutsche Bank (DBKGn.DE) said on Friday it had agreed to buy Numis Corp (NUM.L), a London-based institutional stockbroker and corporate adviser, for about 410 million pounds ($511.2 million) as the German company deepens links with the UK corporate client segment.
The 350 pence-per-share, all-cash offer represents a premium of 72% to Numis stock’s Thursday close.
Numis recommended the offer, which comprises 339 pence in cash, an interim dividend of 6 pence per Numis share for the six months ended March 2023 and an additional interim dividend of 5 pence per share.
“The transaction will allow Deutsche Bank to accelerate its Global Hausbank strategy by unlocking a much deeper engagement with the corporate client segment in the UK,” Deutsche Bank said in a statement.
As part of its Global Hausbank strategy, Deutsche Bank as the leading bank in Germany with strong European roots, aims to become a “global local bank” – the first point of contact in all financial matters.
Deutsche Bank said it will combine its existing UK and Ireland corporate finance business with Numis and intends to co-brand with Numis for the relevant UK activities.
The UK is the largest investment banking market in Europe and Numis is a diversified investment bank with a leading UK franchise.
($1 = 0.8021 pounds)
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D’Souza
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