Brooks Macdonald Group plc (BRK.L) announced it has agreed to sell its wholly owned subsidiary, Brooks Macdonald Asset Management (International) Limited and its subsidiaries 'BMI', to Canaccord Genuity Wealth (International) Holdings Limited for up to 50.85 million pounds, including an initial 28 million pounds in cash payable upon completion.
The deal includes contingent consideration of up to 22.85 million pounds, payable in cash two years after completion. This contingent amount will depend on the revenue performance of the BMI business.
The company noted that the disposal concludes the previously announced strategic review of its international operations.
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