Van Lanschot Kempen, a wealth management firm based in the Netherlands, has reached a deal to purchase its remaining 30% stake in wealth manager Mercier Vanderlinden.
As part of the deal, Van Lanschot Kempen will use a mix of cash (53%) and shares (47%) with a lock-up period until 2030 to complete the transaction.
The firm will also issue over 1.5 million in new shares, with positive impact on capital ratio due to this issue is anticipated to reach 80 basis points.
Following the completion of the deal, the consolidated entity will have €9.6bn in assets under management (AuM) by the end of November next year.
The merged firm will operate under a new name, dubbed Mercier Van Lanschot, from next year.
It is planned to be headed by a joint management team comprising Thomas Vanderlinden and Erwin Schoeters as co-CEOs in addition with Frédéric Van Doosselaere and Paul Timmermans.
Stéphane Mercier will continue to handle Mercier Vanderlinden’s MercLin funds.
Both the deal and appointments are yet to receive regulatory approval.
The deal, whose value has not been divulged, is anticipated to be closed by the first quarter of next year.
It follows after Van Lanschot Kempen bought a 70% stake in Mercier Vanderlinden in July last year and agreed to buy the remaining 30% stake in two phases until 2025.
Van Lanschot Kempen management board chair Maarten Edixhoven said: “Both Van Lanschot Belgium and Mercier Vanderlinden are growing rapidly, demonstrating their relevance to clients.
“The two parties are an excellent fit in terms of client portfolio and network, product offering and expertise.
“This feels like a logical time to speed up the process and embed ourselves more deeply in Belgium with a distinctive and personal proposition for our clients, headed up by a single management team and working to a single, robust organisation under the name of Mercier Van Lanschot.”