Walker Crips Group has completed the sell-off of its subsidiary Keith Bayley Rogers and Company Limited to BWV Investments Limited.
On 1 November of last year, the company announced its intention to sell the entire issued share capital in KBR to BWV. In an announcement on the London Stock Exchange this morning it said it has completed the deal.
At the time of the first announcement, Walker Crips directors estimated KBR would sell for £270,000 plus £75,000, and predicted that the deal would be completed by 31 March 2013.
Following the 2012 announcement Rodney Fitzgerald, chief executive officer of Walker Crips, said: “[Walker Crips] is focused on investing in and expanding its core stockbroking, wealth and investment management businesses. KBR has a long and distinguished history but it is non-core to our current plans.”
Last year (13 March 2012), Liontrust Asset Management acquired Walker Crips Asset Managers for £12.3m, adding £604m to the former’s total assets under management.
