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European Wealth completes £7m reverse takeover

Wealth boutique firm European Wealth has completed a reverse takeover of Aim-listed advice and wealth management firm European Wealth Management Group
for £7.1m.

The move sees European Wealth become Aim listed itself through the reverse acquisition with the company valued at £13.45m.

EW Group had been investors in EWMG since April 2012 and had built up a 49 per cent stake in the firm. EW Group now becomes the listed holding company of EWMG.

European Wealth was set up by Syndicate Asset Management founder John Morton and ex-Aberdeen Asset Management chairman and founder George Robb in November 2010. The firm says it intends to use the listing to generate further acquisitions. EWMG Group has assets under management of £710m.

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