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.…
All posts tagged Generation Development Group
Generation Development Group to acquire remaining 61.9% of Lonsec for $197.4 million
SYDNEY, AUSTRALIA: Generation Development Group Limited (ASX:GDG) has entered into a binding agreement to acquire the remaining 61.9%of Lonsec Holdings Pty Ltd’s fully diluted share capital not already owned by GDG for $197.4 million up-front consideration. Following GDG’s highly successful investment in Lonsec in 2020, a move to 100% ownership provides an opportunity for GDG…