Astaire Securities sold off to Canada’s Northland Capital Partners for £2.45m

first_img Share EMBATTLED stockbroker Astaire on Friday agreed to divest itself of its main Astaire Securities division for £2.45m, bringing to a close a tumultuous period for the group which included the failed takeover of rival Hoodless Brennan, directors’ resignations and a lawsuit against the firm.Astaire sold the securities unit to Canadian group Northland Capital Partners (NCP) for £2m in cash and £450,000 to be placed into an escrow account against the firm’s continued eligibility for nominated adviser (Nomad) status and against any warranty claims or shortfall in the sale of assets below their book value.Astaire said that a lawsuit by Izodia against Corporate Synergy Holdings (CSH), an intermediate holding company within the group, had damaged staff morale and client relationships, both key to its business. The majority of the £2m cash proceeds from the sale will be retained by CSH pending the outcome of the litigation.Under new owner NCP, Astaire Securities will be renamed and chaired by current head of corporate finance Stuart Lane. It is still adviser and broker to over 40 Aim clients. Tags: NULL whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition center_img KCS-content Sunday 17 October 2010 10:53 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Astaire Securities sold off to Canada’s Northland Capital Partners for £2.45m last_img

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