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.