RHJ International SA

June 01, 2011 02:08 ET

RHJ International Announces Completion of the Acquisition of Close Offshore Group by Kleinwort Benson

BRUSSELS, BELGIUM--(Marketwire - Jun 1, 2011) - RHJ International ("RHJI") announces today that Kleinwort Benson, its wholly owned financial services subsidiary, has completed the acquisition of Close Offshore Group ("COG") for a cash consideration of £26.4 million, subject to post closing adjustments.

The acquisition comprises COG's private banking, fund administration, fund management, trust and asset management businesses across Guernsey, Jersey and the Isle of Man. It also includes COG's shared service centre in Cape Town.

The purchase brings an additional £1.6 billion to Kleinwort Benson's private wealth assets under management. This acquisition has been financed through Kleinwort Benson Channel Islands Holdings Limited.

RHJI's Chief Executive Officer, Leonhard Fischer, said:

"We are pleased to announce the closing of this transaction as it adds further scale and strength to Kleinwort Benson's banking and fiduciary businesses. The purchase of Close Offshore Group will also strengthen Kleinwort Benson's banking proposition both in terms of liquidity and capital base."

About RHJ International:

RHJ International (Euronext: RHJI) is a limited liability company incorporated under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, Belgium. RHJI is transforming itself from a diversified industrial holding company into an active and dynamic financial services group. For further information visit: www.rhji.com.

This press release contains certain forward-looking statements concerning the Company's operations, economic performance and financial condition. Such forward-looking statements are based on management's current expectations, estimates and projections and are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company has no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release.

Full Press Release (PDF): http://hugin.info/135946/R/1520165/456825.pdf

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Contact Information

  • For further information please contact:

    Arnaud Denis
    Investor Relations Director
    Tel: +32 2 643 60 13
    E-mail: Email Contact