Generation Development Group to acquire Evidentia for $320 million

MELBOURNE: Generation Development Group (ASX: GDG) announced Monday it has entered into a binding agreement to acquire 100% of Evidentia Group Holdings Pty Ltd for $320 million. Evidentia now manages $13.7bn in assets for Australia’s leading Private Wealth Firms. The acquisition will be partly funded by a fully underwritten equity raising of approximately $287.9 million.…