Kingswood Holdings Limited (LON: KWG) has taken another giant step in US expansion strategy and announced further US investment.
- The company has formally closed its acquisition of Chalice Capital Partners and Chalice Wealth Advisors, together known as Chalice.
- The acquisition is as per the planned increase in company’s interest in Manhattan Harbor Capital (MHC) from 7 per cent to 20 per cent.
- The company further plans to contemporaneously fold Chalice into MHC, increasing its interest in MHC to above 50 per cent. There is a definitive agreement to acquire majority of 50.1 per cent interest in MHC.
- On 12 August 2020, at the time of writing, GMT 08:44 AM, KWG shares were trading at GBX 27.00, up by 1.00 points or 3.85% against the previous day closing price.
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