Trustee company, EQT Holdings
(ASX:EQT) has inked a deal to buy a majority stake (60 per cent) of UK fund governance provider, Treasury Capital.
The investment in the company is not material, but will contribute to earnings in 2018 and be funded by existing cash and debt facilities.
The transaction has been given the green light the by Financial Conduct Authority (FCA) and will give it a platform to grow its fiduciary services in the $70 trillion global funds management industry.
The company says the deal will also help it to become a premier fund operator in the UK and Ireland.
Shares in Eqt Holdings
(ASX:EQT) last traded at $17.66.
