Royal Bank Of Canada To Buy Brewin Dolphin For GBP 1.6 Bln

(RTTNews) - RBC Wealth Management (Jersey) Holdings Limited, a wholly owned subsidiary of Royal Bank of Canada, announced cash offer for the entire issued and to be issued share capital of Brewin Dolphin (BRW.L) for 515 pence per share, implying an equity value of about C$2.6 billion or 1.6 billion pounds on a fully diluted basis.

The offer prices represents a premium of 62 percent to the closing price of 318.0 pence per Brewin Dolphin Share on 30 March 2022.

RBC anticipates completion of the transaction by end of third-quarter of 2022.

The Brewin Dolphin Directors intends to recommend unanimously that Scheme Shareholders vote in favour of the Scheme at the Court Meeting.