Cardea Europe AG
Cardea Europe AG: Signing of a letter of intent to acquire a majority stake in a Luxembourg-based Asset Managing Company
DGAP-News: Cardea Europe AG
/ Key word(s): Letter of Intent/Investment
Cardea Europe AG Cardea Europe AG (“Cardea”) Frankfurt am Main, Germany, part of Cardea Corporate Holdings Inc., today announced that it has signed a letter of intent to acquire a majority stake in a Luxembourg-based Asset Manager (the “Target”). Under confidentiality agreements the Target name is undisclosed at this time. The transaction is subject to due diligence and final regulatory approval. Cardea has a 60-day exclusivity and expects the transaction to close in Q1 2022. The Target has operations in the UK and in Italy and is a fully regulated FCA and EU licensed wealth and investment management firm with nearly EUR400 million of assets under management (AUM) and eight funds encompassing a broad array of investment strategies. The Target, established in 2008, employs more than 30 professionals and manages a number of SMAs (separately managed accounts) in addition to its eight proprietary funds. The fund disciplines are focused around Long-Short, Absolute Return, and Liquid Alternatives in addition to Italy-focused balanced strategies. Jordan Waring, Chairman and CEO of Cardea, commented “We are excited about the prospect of adding the Target company to our overall business, as it brings with it a world-class leadership team who understand and believe in our vision, an excellent suite of proprietary products that we believe fit Cardea synergistically, and geographic locations that will allow us to further develop and implement our strategy of a global, open-architecture wealth intelligence platform”. Cardea is a global asset management firm with offices in Atlanta, London, Barcelona and Frankfurt and more than $3.2 Billion of Assets Under Management. Through its subsidiaries, Cardea Capital Group and Cardea Capital Advisors, both SEC registered investment advisors, Cardea offers wealth management, institutional advisory, turnkey asset management platform services and advisory services to both financial advisors and individual investors. Cardea Europe AG Disclaimer Safe Harbor Statement No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. If any statements in this document contain forward-looking statements, such statements do not represent facts and are characterized by the words ‘will’, ‘expect’, ‘believe’, ‘estimate’, ‘intend’, ‘aim’, ‘assume’ or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of DESIAG and/or CARDEA EUROPE AG and the persons acting together with DESIAG and/or CARDEA EUROPE AG. Such forward-looking statements are based on current plans, estimates and forecasts which DESIAG and/or CARDEA EUROPE AG and the persons acting together with DESIAG and / or CARDEA EUROPE AG have made to the best of their knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by DESIAG and / or CARDEA EUROPE AG or the persons acting together with DESIAG and / or CARDEA EUROPE AG. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change. End of ad hoc announcement
16.12.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Cardea Europe AG |
Lurgiallee 14 | |
60439 Frankfurt am Main | |
Germany | |
Phone: | 069 – 870 08 79 296 |
E-mail: | investor-relations@cardea-europe.de |
Internet: | www.cardea-europe.de |
ISIN: | DE000A3H2ZP5 |
WKN: | A3H2ZP |
Listed: | Regulated Unofficial Market in Frankfurt |
EQS News ID: | 1258841 |
Notierung vorgesehen. / Designated to be listed. |
End of News | DGAP News Service |