M&A Deal Summary

Phillip Securities Acquires King & Shaxson

On December 5, 2002, Phillip Securities acquired financial services company King & Shaxson from Old Mutual

Acquisition Highlights
  • This is Phillip Securities’ 1st transaction in the Financial Services sector.
  • This is Phillip Securities’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2002-12-05
Target King & Shaxson
Sector Financial Services
Buyer(s) Phillip Securities
Sellers(s) Old Mutual
Deal Type Divestiture

Target

King & Shaxson

London, United Kingdom
King & Shaxson Ltd. is one of the City's major bond brokers, specialising in UK gilts and other bonds including overseas government bonds and eurobonds. KSBB's business includes the gilt inter-dealer broker, Dowgate.

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Buyer(S) 1

Buyer

Phillip Securities

United Kingdom

Category Company
Sector Financial Services
DESCRIPTION

Phillip Securities (UK) Ltd. engaged in clearing services, derivative fund management, equity asset management, equity portfolio management, fixed interest fund management, foreign exchange, futures and options broking.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2002 M&A 1 of 1

Seller(S) 1

SELLER

Old Mutual

Pinelands, United Kingdom

Category Company
Founded 1845
Sector Financial Services
Revenue 13.6B GBP (2015)
DESCRIPTION

Old Mutual Ltd. is an international financial services company with expanding operations in life assurance, asset management, banking, and general insuarnce. Old Mutual was formed in 1845 and is based in Pinelands, South Africa.


DEAL STATS #
Overall 3 of 9
Sector: Financial Services M&A 3 of 7
Type: Divestiture M&A Deals 3 of 8
Country: United Kingdom M&A 2 of 4
Year: 2002 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-21 GNI Holdings

London, United Kingdom

GNI Holdings Ltd. is a provider of derivative brokerage and collateral management services across global fixed interest, equities, commodities and foreign exchange markets.

Sell £100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-09 Old Mutual

Hamilton, Bermuda

Old Mutual (Bermuda) Ltd. is a provider of insurance and investment products.

Buy -