(1888PressRelease)
March 20, 2008 - Sources close to Fosse Financial claim that Fosse Financial is due to announce that it has completed the acquisition of certain Australian fund management businesses from Deutsche Bank and that the transfer of the businesses will be effective within the next couple of months.
In addition, sources have stated that Fosse Financial has paid an initial undisclosed consideration which was based on estimated assets under management which will transfer to Fosse Financial management. These assets apparently comprise a portion of segregated client mandates and an additional portion of unit trust assets. According to the reports, the consideration remains subject to certain adjustments to be reflected once the value of assets under management by Fosse Financial has been confirmed.
Fosse Financial have so far declined to comment on the rumoured acquisition.
###
