Acquisition(s)

Released : 11.01.2007 17:44


11 January 2007

 

                              Tullett Prebon plc

                                                                              

                       Completion of the acquisition of                        
                     Chapdelaine Corporate Securities & Co                     

 
The Board of Tullett Prebon plc announces that the Company has completed the
acquisition of 100 per cent. of the stock of Chapdelaine Corporate Brokers Inc.
and 100 per cent. of the membership interests of C&W Corporate Securities LLC,
these two entities being the owners of Chapdelaine Corporate Securities & Co.
('CCS').

As announced by the Company on 27 October in a statement advising that Heads of
Agreement had been signed with the principal shareholders, the consideration
remains $95 million payable in cash, $57 million of which is payable on
completion and the balance over the next 3 years, part of which is dependent on
CCS' performance.

CCS is a long-established New York business which provides brokerage services
in corporate bonds, credit derivatives, mortgage backed securities and
equities.  For the twelve months ended 30 June 2006 CCS reported audited
revenues of $118m.

The acquisition will deepen and strengthen Tullett Prebon's capabilities in
North America, particularly in Credit products.

 
                                 - Ends -

Enquiries:

 
Nigel Szembel, Head of Communications              mobile: +44 7802 362088
Tullett Prebon plc