Alliance Trust is to buy Stocktrade from Brewin Dolphin in an effort to bolster its Alliance Trust Savings business. They say the deal has the potential to add more than 48,000 new customers and £4.6bn of new assets into ATS across three main channels; direct customers, intermediary customers and strategic partnerships. The purchase price is £14m. Alliance Trust Savings will fund the acquisition price and additional associated regulatory capital of up to £8m in cash via an injection of equity from its parent, Alliance Trust PLC. Completion of the transaction is expected to take place towards the end of the third quarter of 2015.
ATST : Alliance Trust buying Stocktrade