Walker Crips to sell corporate advice arm for £345k

Walker Crips has agreed to sell corporate advice subsidiary Keith, Bayley, Rogers & Co to BMV Investments as it focuses on core businesses.

BMV will pay £75,000 plus an amount equal to KBR's net assets at close of business yesterday - expected by Walker Crips to be £270,000. KBR reported turnover of £302,000 and a pre-tax loss of £92,000 in the year to 31 March 2012. The sale is expected to take place by 31 March 2013, subject to FSA approval. Walker Crips sold its asset management division to Liontrust in April and will continue to concentrate on core business lines, according to CEO Rodney Fitzgerald. "The company is focused on investing in and expanding its core stockbroking, wealth and investment management busi...