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Kingswood Holdings Ltd - London-based wealth and investment management group - Completes acquisition of Dublin-based financial advice firm Moloney Investments Ltd, following regulatory approval.
In September, Kingswood said the then-proposed acquisition was for a 70% stake in Moloney Investments for a total cash consideration of €25.8 million. Kingswood also said it would increase its funds under advice or management to over £7.8 billion across the UK and Ireland, and over £10 billion overall.
Kingswood Chief Executive Officer David Lawrence said at the time: ‘[Moloney Investments] provides access to the attractive Irish wealth management market whilst also offering multiple new avenues for growth.’
Current stock price: 27.97 pence, up 3.6% on Friday
12-month change: down 3.6%
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