European Wealth Group Limited Acquisition Update (0641P)
May 23 2018 - 8:16AM
UK Regulatory
TIDMEWG
RNS Number : 0641P
European Wealth Group Limited
23 May 2018
23 May 2018
European Wealth Group Limited
("EWG", the "Company" or the "Group")
Acquisition Update
European Wealth Group, the integrated wealth management group,
today provides a further update on its proposed acquisition of
Newbridge Corporation ("Newbridge").
The Board of EWG is pleased to announce that the US regulator,
FINRA, has approved Newbridge's request for a change of ownership.
EWG will now move to the final stages of its commercial due
diligence on Newbridge, in order to assess whether the remaining
(non-regulatory) closing conditions can be fulfilled to the Board's
satisfaction, including a satisfactory final closing balance sheet
and confirmation that there are sufficient provisions for all
current and future liabilities identified since announcement of the
proposed acquisition. There is no guarantee that the transaction
will close.
EWG will provide an update when the process is complete.
For further details, please contact:
European Wealth Group
Limited +44 (0)20 7623 2368
Marianne Ismail
Hugo Evans
finnCap Ltd (Nomad
and Broker) +44 (0)20 7220 0500
Adrian Hargrave
Scott Mathieson
Redleaf Communications +44 (0)20 3757 6865; ewg@redleafpr.com
(for media)
Robin Tozer
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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