Completes Its First Transaction
London, April 5, 2013 AEST (ABN Newswire) - Millhouse, Inc. PLC, the international financial services group, has announced that it has completed the acquisition of the 25% interest of a highly regarded financial services group in Sydney, Australia. The company has a signed option to acquire the 75% majority shareholding.
A published report from the Australian Securities and Investment Commission indicates that there is likely to be a consolidation in this sector of the Australian financial services sector and a need for up to A$109 million of new prudential capital for participants in the sector. This is consistent with the acquisition and consolidation strategy described in Millhouse, Inc. PLC's investor presentation and forthcoming prospectus for the GXG Markets in London.
The Chairman, M. Philippe Paillart, speaking from Singapore, indicated that this acquisition will result in revenue and EBITDA contribution to the company. He said that he expects this acquisition will enable Millhouse, Inc. PLC to participate in and support the consolidation of the Australian financial services sector.
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.
Following the voluntary suspension of Millhouse, Inc. PLC on the Frankfurt Stock Exchange, Peter Koch Gmbh Securities Trading Bank will continue to 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.
Contact
Millhouse Inc. Plc
T: +61-3-9221-6195
F: +61-3-9653-6129
E: investorrelations@millhouse.co
WWW: www.millhouse.co/international
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