Deutsche Bank to acquire Numis in £410m deal

By Gloria Methri

Deutsche Bank has reached an agreement on the terms of a recommended all-cash offer for the acquisition of Numis Corporation Plc.

Numis is a UK corporate broking and advisory house providing strategic advice and capital market connectivity to 166 retained corporate broking clients, including 64 clients in the FTSE 350.

The transaction will allow Deutsche Bank to accelerate its Global Hausbank strategy by unlocking a deeper engagement with the corporate client segment in the UK.

The Management Board of Deutsche Bank and Board of Numis believes that the transaction represents a strategic opportunity to combine the bank’s UK and Ireland corporate finance business with Numis to establish a leading force in the UK investment banking sector.

Under the agreed terms, Numis shareholders will be entitled to receive 350 pence per share, valuing Numis at approximately £410 million. Deutsche Bank has received an irrevocable undertaking from Numis’ largest shareholder to vote in favour of the Transaction.

The transaction is expected to complete during the fourth quarter of 2023, subject to certain conditions including approval by Numis shareholders and receipt of regulatory approvals.

Fabrizio Campelli, Head of Corporate Bank and Investment Bank at Deutsche Bank said, “This Transaction is strongly aligned with our Global Hausbank strategy and has the potential to unlock significant value within both the Numis and Deutsche Bank franchises. We have been evaluating how to accelerate the growth of our business in the UK and, as a leading UK franchise with a long history of successfully delivering superior client service and growth, Numis represents a compelling strategic fit. There is a strong and complementary cultural alignment between the bank and Numis that will propel the combined business to deliver exceptional client service.”