JLT in talks to buy wealth management company
Jardine Lloyd Thompson Group is in talks to buy the Iimia Wealth Management division from Midas Capital.
Jardine Lloyd Thompson (JLT) Group is in advanced negotiations to buy Iimia Wealth Management (IWM) from Midas Capital for £7.25m in cash subject to adjustment based on the completion balance sheet.
In the six months to 30 June 2009, the IWM businesses contributed £0.46m to Midas' consolidated profit before management charges, amortisation, exceptional items and tax on revenues of £2.9m.
Completion is expected in January 2010.
The news comes in the same week that JLT announced its acquisition of
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