Pinnacle secures approval for Pacific Asset Management acquisition
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The news: Pinnacle Investment Management has received the green light from the Financial Conduct Authority and Dubai Financial Services Authority for the acquisition of the remaining 79.2% of Pacific Asset Management.
The context: This follows Pinnacle’s earlier announcement that it planned to acquire the remaining 79.2% stake in London-based asset manager Pacific Asset Management it does not already own for $418.8 million.
The transaction is expected to finalise on 24 April.
The source: ASX
