Brussels, June 1, 2011 - RHJ International ("RHJI") announces today that Kleinwort Benson, its wholly owned financial services subsidiary, has completed the acquisition of Close Offshore Group ("COG") for a cash consideration of £26.4 million, subject to post closing adjustments.
The acquisition comprises COG's private banking, fund administration, fund management, trust and asset management businesses across Guernsey, Jersey and the Isle of Man. It also includes COG's shared service centre in Cape Town.
The purchase brings an additional £1.6 billion to Kleinwort Benson's private wealth assets under management. This acquisition has been financed through Kleinwort Benson Channel Islands Holdings Limited.
RHJI's Chief Executive Officer, Leonhard Fischer, said:
"We are pleased to announce the closing of this transaction as it adds further scale and strength to Kleinwort Benson's banking and fiduciary businesses. The purchase of Close Offshore Group will also strengthen Kleinwort Benson's banking proposition both in terms of liquidity and capital base."
About RHJ International:
RHJ International (Euronext: RHJI) is a limited liability company incorporated under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, Belgium. RHJI is transforming itself from a diversified industrial holding company into an active and dynamic financial services group. For further information visit: www.rhji.com
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