Deutsche Bank agrees on terms of acquisition of Numis Corporation
Deutsche Bank today announces that it has reached an agreement on the terms of a recommended all-cash offer for the acquisition of Numis Corporation Plc.
Under the terms of the transaction, Numis shareholders will be entitled to receive a total of 350 pence per share, valuing Numis at approximately £410 million.
Numis is a leading UK corporate broking and advisory house providing strategic advice and capital market connectivity to 166 retained corporate broking clients, including 64 clients in the FTSE 350, representing almost 20% of the index.
The Management Board of Deutsche Bank and Board of Numis are convinced that the deal represents an exciting strategic opportunity to combine Deutsche Bank’s existing UK and Ireland corporate finance business with Numis to establish a leading force in UK investment banking with a prominent position across corporate broking, strategic advisory (including M&A and growth capital), equity and debt capital markets and equity research, sales and execution, and to leverage Deutsche Bank’s comprehensive and global product offering across the Corporate Bank and the International Private Bank.
The Board of Numis intends to recommend the Transaction unanimously to Numis shareholders. Deutsche Bank has received an irrevocable undertaking from Numis’ largest shareholder to vote in favour of the Transaction.
The Transaction is expected to complete during the fourth quarter of 2023, subject to certain conditions including approval by Numis shareholders and receipt of regulatory approvals.
Assuming closing in Q4 2023, Deutsche Bank anticipates that the transaction will be EPS accretive from 2024 and will deliver an attractive return on regulatory capital consumed. The CET1 ratio impact at closing is expected to be approximately (9) basis points.