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Acquisition of Asset Alliance
Arbuthnot Banking Group PLC ( Arbuthnot or the Group ) today announces that its subsidiary Arbuthnot Latham ( AL or the Bank ) has agreed the purchase of the entire issued share capital of Asset Alliance Group Holdings Limited ( Asset Alliance )
 
Asset Alliance provides vehicle finance and related services, predominantly in the truck & trailer and bus & coach markets. Operating from five locations, it is the UK s leading independent end-to-end specialist in commercial vehicle financing and has over 4000 vehicles under management.
As at 31 August 2020 Asset Alliance had assets for lease with a net book value of approximately £150 million.
 
The consideration is based on an agreed discount to the tangible net assets of Asset Alliance at completion, after adjusting for the fair value of the assets available for lease. The consideration is expected to be approximately £4.1 million ....

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