press releases 2007 archive
31 December 2007
Altigefi acquisition
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31 December 2007
The balance of 49% of the issued share capital of Altigefi not being acquired by Integrated will continue to be held by Financière Atlas. As part of the multi-year agreement, which has been renewed as part of this transaction, Integrated and Financière Atlas are already co-operating to develop the French market for institutional alternative products. Financière Atlas has historically been Altigefi’s main distributor in France. The consideration for the acquisition of the 2% from Financière Atlas was €320,000 (£220,000), making a total initial consideration of €8.0 million (£5.5 million) for the 51%.
Following the acquisition, Integrated has approximately $2.5 billion in assets under management and advice. Emanuel Arbib, Chief Executive Officer of Integrated, commented: We are delighted to have swiftly obtained the required regulatory approval from the AMF. During the past few weeks we have already begun to work with our colleagues at Altigefi and partners at Financière Atlas to effect a smooth integration of Altigefi with Integrated. We plan to build on the capabilities and resources of the Paris office to continue to serve our clients and provide centralised services to the Integrated group of companies.” François de La Baume Chief Executive of Financière Atlas, added: “We are very pleased that the completion of the transaction with Integrated gives Financiére Atlas the wherewithal to offer its French and European customers the benefit of a broader range of superior quality funds and services, thanks to the recognized expertises of both integrated and Altigefi’s teams. We have already begun to work closely with our colleagues at Integrated and Altigefi in order to take maximum advantage of the new joint management and distribution capabilities and are confident that this new cooperation will bear fruits in 2008.” Ends For further details please contact: Integrated Asset Management plc
Financière Atlas S.A.
Noble & Company Limited
Jeff Watt / John Moriarty / Stewart Harris,
Note to Editors: Integrated Asset Management plc is an alternative investment group listed on the AIM market of the London Stock Exchange under the symbol IAM. Integrated Asset Management\'s core businesses are innovative fund management, alternative investment products and institutional brokerage services for equity and fixed income. The Company now has circa US$2.5 billion of assets under management and advice, and maintains offices in 5 countries.
Integrated completes the acquisition of 51% of Altigefi, a Paris based Fund of Hedge Funds Manager with Approximately $1 Billion in Assets Under Management
The Board of Integrated Asset Management plc (“Integrated”) (London AIM: IAM) is pleased to announce today that it completed the acquisition of 51% of the issued share capital of Altigefi S.A. (“Altigefi”), the Paris based fund of hedge funds manager, following the completion of the acquisition of the additional 2% of the issued share capital of Altigefi from Financière Atlas, a French subsidiary of Luxembourg based Sal. Oppenheim Jr & Cie S.C.A, Europe’s leading independent private bank and largest shareholder of Integrated. The acquisition of the additional 2% stake was subject to the regulatory approval of the French Financial Markets Authority (Autorité des Marchés Financiers) which has now been received.
Altigefi manages four principal funds of hedge funds with a total of approximately US$1 billion in assets under management at 5 October 2007. Altigefi’s flagship product is the Altipro family of funds, an extremely well performing low volatility product with a nine year track record.
Emanuel Arbib, Chief Executive Officer,
Tel: +44 (0)20 7514 9200
arbib@integratedam.com
François de La Baume, Chairman of the Management board
Tel: +33 (01)44 50 88 88
fdelabaume@finatlas.com
John Riddell, Director
Tel: +44 (0)20 7763 2200
john.riddell@noblegp.com
Weber Shandwick Financial
Tel: +44 (0)20 7067 0700
jwatt@webershandwick.com ; or
jmoriarty@webershandwickcom ;or
sharris@webershandwick.com
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www.integratedam.com
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