Metro Bank Plc to acquire Retail Money Market Ltd

Metro Bank Plc (LON: MTRO) has informed about the acquisition of RateSetter.

  • The company has agreed to acquire Retail Money Market Ltd (RateSetter) founded in 2010.
  • The initial consideration of the acquisition is £2.5 million, with further amount of up to £0.5 million payable 12 months after completion based on the fulfilment of certain criteria.
  • Based on certain key performance criteria, there will be an additional consideration of up to £9 million payable on the third centenary of the completion of the transaction.
  • On 3August 2020, at the time of writing, GMT 09:26 AM, MTRO shares were trading at GBX 102.40, down by 0.90 points or 0.87% against the previous day closing price.

Comment


Disclaimer