HFA announces key merger
HFA Holdings has announced that it has entered into a merger implementation agreement (MIA) with US-based fund of absolute return funds manager Lighthouse Partners.
The MIA states that HFA will acquire Lighthouse for $US384.5 million in cash and 134.64 million HFA shares, giving rise to an acquisition price of around $707 million.
The merger follows on from a long-running and close relationship between the two parties, with HFA saying that on completion HFA and Lighthouse would be a truly international provider of absolute return-based investment products with total assets under management of around US$8 billion.
HFA managing director Paul Jensen said the merger would establish HFA as a global provider of alternative investments with significantly diversified distribution channels.
AUTHOR
Mike Taylor
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