Brooks Macdonald (GB:BRK) has released an update.
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Brooks Macdonald Group plc has agreed to sell its international division, Brooks Macdonald Asset Management (International) Limited, to Canaccord Genuity Wealth Management for up to £50.85 million, aiming to complete the deal by March 2025. This strategic move is designed to streamline the Group’s focus on its core UK investment management and financial planning services. The sale follows a thorough strategic review and is expected to provide capital for the Group to pursue growth through organic means and targeted mergers and acquisitions.
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