Caceis, a pan-European custodian, is extending its asset servicing ability with the acquisition of Holland’s Kas Bank.
Caceis has published details about a recommended public offer in cash for all the securities the Dutch bank, which has business in the UK as well as the Netherlands.
The offer of €12.75 per share values Kas Bank at €187 million and started Monday (29th) and lasts until September 23. Completion is expected in the second half of 2019.
Caceis said the acquisition will enhance its offering to pension funds, insurers and asset managers and will strengthen its market share in the Netherlands, the UK and Germany.
Jean-François Abadie, chief executive officer of Caceis, said: “This deal is an excellent opportunity to bring significant pension fund servicing expertise into the Caceis group, together with the professional staff who know the servicing needs of their institutional investor clients.”
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