Commences Due Diligence on Major Wealth Management Portfolio
Sydney, Nov 15, 2012 AEST (ABN Newswire) - Millhouse, Inc. PLC (
M77:FRA) , the Frankfurt Stock Exchange listed financial services group, has announced that it has commenced due diligence on the acquisition of a portfolio of businesses in wealth management and asset consulting.
The company is appointing a major international advisory firm to lead the diligence process and acquisition negotiations. The preliminary investigations indicate that these acquisitions would lead to incremental EBITDA contribution of approximately USD15.58 million per annum on satisfactory completion of the transactions.
The Chairman, M. Philippe Paillart, speaking from Dubai, commented that "this is a major project for the company and he looks forward to reviewing the results of the due diligence reports at the next board meeting".
Millhouse, Inc. PLC recently appointed Peter Koch Gmbh Securities Trading Bank as a market maker for its shares in the Xetra2 Specialist Model on the Frankfurt Stock Exchange.
Peter Koch Gmbh Securities Trading Bank will assist Millhouse, Inc. PLC in the placement of its securities and work closely with its corporate advisers and investor relations teams in New York and Europe.
Millhouse, Inc. PLC intends to complete EBITDA accretive acquisitions in private banking, wealth management, investment, asset and funds management and private equity and debt markets. The positive cash flow from the acquisitions would be used for additional acquisitions as the company embarks on a rapid expansion phase in 2013. The company will also be sponsoring new IPO's on the Frankfurt Exchange as part of its private equity strategy.
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The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements.
Contact
Millhouse Inc. Plc
Level 27, 101 Collins Street
Melbourne, VIC 3000
Australia
TEL: +61-3-9221-6195
FAX: +61-3-9653-6129
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