Brooks Macdonald snaps up Cornelian AM for £39m

Brooks announces £30m placing to finance deal

David Brenchley
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Brooks Macdonald CEO Caroline Cornellan said the two firms have complimentary cultures
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Brooks Macdonald CEO Caroline Cornellan said the two firms have complimentary cultures

Brooks Macdonald has bought Edinburgh-based wealth and asset manager Cornelian Asset Managers for a fee of up to £39m.

In a stockmarket announcement, Brooks said it had acquired 100% of Cornelian's issued share capital from its shareholders, which include senior management. It paid an initial sum of £31m - £22m in cash...

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