Investec to Begin ‘Detailed’ Talks With Evolution, Times Says
Investec Plc (INVP), the private bank and wealth manager bidding to buy Evolution Group Plc (EVG), will begin “detailed discussions” with the British brokerage this week, The Sunday Times reported without saying where it got the information.
While the parties haven’t agreed on a price yet, the value of the deal focuses on Evolution’s wealth-management business, the newspaper said. Investec won’t place a value on Evolution’s securities unit, which reported a loss in the first half, according to the newspaper.
To contact the reporter on this story: Firat Kayakiran in London at firstname.lastname@example.org
To contact the editor responsible for this story: Dick Schumacher at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.