EQT Holdings to buy 60% of UK’s Treasury Capital

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.