Dutch trust operator Intertrust buys Elian for 435 million pounds

June 6, 2016 6:31 AM

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AMSTERDAM Intertrust (INTER.AS) plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra Partners LLP to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm said on Monday.

Intertrust will pay for the deal through a mix of cash, shares and assumed debt, and said the purchase would increase group earnings by 20 percent per share by 2018, due to cost savings and cross-selling advantages.

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