River and Mercantile parent AssetCo acquires Revera

The cost of the acquisition is less than half what was initially agreed earlier this year

James Baxter-Derrington
clock • 1 min read
Martin Gilbert
Image:

Martin Gilbert

AssetCo has completed its acquisition of Revera Asset Management in an updated deal that sees the Martin Gilbert-chaired group pay less than half of the original agreement.

The initial agreement published on 28 February had AssetCo agree to pay a total consideration of £2.8m for the Edinburgh-based boutique, with £1.9m in cash and the rest satisfied by share purchases...

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