Link Administration Holdings (ASX:LNK) to acquire Pepper European Servicing

Company News

by Rachael Jones

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$6.190 -$0.249 -3.87%
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Last Updated: 24/02/2020 3:28 PM

Link Administration Holdings (ASX:LNK) has entered into a binding agreement to acquire Pepper European Servicing for an upfront consideration of $266 million.

There would be contingent cash payments of $56 million if certain total Assets Under Management (AUM) thresholds and growth milestones are met.

The business has well established operations in the UK and Ireland as well as a growing presence in the emerging markets of Spain, Greece and Cyprus.

Shares in Link Administration Holdings (ASX:LNK) are trading 9.18 per cent higher at $6.78.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.