AssetCo agrees £4.1m acquisition of India specialist Ocean Dial Asset Management

AssetCo has reached an agreement to acquire the entire issued share capital of Ocean Dial Asset Management for a total consideration of £4.1m. The deal will see the Martin Gilbert-chaired asset manager add emerging markets capabilities to its repertoire, with a particular focus on India, bringing the India Capital Growth Fund investment trust under the River and Mercantile banner. Split between cash and shares, the offer will see AssetCo purchase 2,928,258 ordinary shares of ODAM for a penny each, with the remainder of the offer satisfied by £2.1m in cash. Of this, 732,065 shares a...