April 28 Reuters Deutsche Bank said on Friday it had agreed to buy Numis Corp, a Londonbased institutional stockbroker and corporate adviser, for about 410 million pounds 511.2 million as the German company deepens links with the UK corporate client segment.

The 350 pencepershare, allcash offer represents a premium of 72 to Numis stock39;s Thursday close.

Numis recommended the offer, which comprises 339 pence in cash, an interim dividend of 6 pence per Numis share for the six months ended March 2023 and an additional interim dividend of 5 pence per share.

The transaction will allow Deutsche Bank to accelerate its Global Hausbank strategy by unlocking a much deeper engagement with the corporate client segment in the UK, Deutsche Bank said in a statement.

As part of its Global Hausbank strategy, Deutsche Bank as the leading bank in Germany with strong European roots, aims to become a global local bank the first point of contact in all financial matters.

Deutsche Bank said it will combine its existing UK and Ireland corporate finance business with Numis and intends to cobrand with Numis for the relevant UK activities.

The UK is the largest investment banking market in Europe and Numis is a diversified investment bank with a leading UK franchise.

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Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D39;Souza

Source Reuters