July 5, 2017 / 12:02 PM / in a year

BRIEF-Canaccord Genuity reports acquisition to increase scale of Canaccord's wealth management in the UK & Europe

July 5 (Reuters) - Canaccord Genuity Group Inc:

* Canaccord Genuity Group Inc. announces acquisition to increase scale of Canaccord Genuity wealth management in the Uk & Europe

* Says ‍through its UK & Rurope based wealth management business agreed to acquire Hargreave Hale Limited​

* Canaccord Genuity Group Inc - ‍under terms of transaction, CGWM (UK) will pay an initial consideration to shareholders of Hargreave Hale of £52.0 million​

* Canaccord Genuity Group Inc - additional contingent consideration, if paid, will be funded from ongoing cash flow of business

* Canaccord Genuity Group Inc - it is expected that acquisition will be immediately accretive to company’s adjusted earnings

* Canaccord Genuity Group Inc - ‍under terms of transaction, cgwm (uk) will pay additional contingent consideration of up to £27.5 million​

* Canaccord Genuity Group Inc - acquisition-related costs are expected to be approximately £16.0 million (c$27.0 million)

* Canaccord Genuity- initial consideration to be funded in part from credit facility provided to CGWM by National Westminster Bank, HSBC Bank for £40.0 million Source text for Eikon: Further company coverage:

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