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BRIEF-Azimut's unit buys JFS Personal Investment Solutions

Published 10/06/2016, 05:27 pm
Updated 10/06/2016, 05:30 pm
© Reuters.  BRIEF-Azimut's unit buys JFS Personal Investment Solutions
AZMT
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June 10 (Reuters) - Azimut Holding SpA AZMT.MI :

* Through AZ Next Generation Advisory (AZ NGA) acquires JFS Personal Investment Solutions (JFS) Pty Ltd. in Australia

* JFS acquisition deal includes share swap of 49 pct of JFS's equity for AZ NGA shares and progressive buy back of these shares over next ten years

* Remaining 51 pct stake in JFS will be paid to founding partner in cash over a period of two years

* Total value of JFS acquisition transaction considering both cash and share swap entails purchase price of around A$ 3.5 million ($2.6 million)

* The closing of the transaction is expected to occur in July 2016

* JFS operates under the Australian Financial Services License regime overseen by ASIC Source text for Eikon: ID:nBIA100ed Further company coverage: AZMT.MI ($1 = 1.3490 Australian dollars) (Gdynia Newsroom)

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