Australian firm extends global footprint
Australian-based Computershare Limited has moved to substantially increase its profile in employee share plan administration with the acquisition of Britain’s HBOS Employee Equity Solutions from Lloyds Banking Group.
Computershare announced the acquisition to the Australian Securities Exchange (ASX) today saying the transaction was valued at 40 million pounds and would be funded by cash and existing debt facilities with the objective of being earnings per share positive in the 2011 financial year.
Commenting on the acquisition, Computershare president and chief executive Stuart Crosby said it would result in Computershare becoming the market leader in employee plan administration in the United Kingdom.
AUTHOR
Mike Taylor
Recommended for you
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
