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Generation Development Group Limited ( (AU:GDG) ) has provided an update.
Generation Development Group Limited (GDG) has announced its acquisition of Evidentia Group Holdings Pty Ltd for $320 million, with partial funding through a $287.9 million equity raising. This strategic move strengthens GDG’s presence in the managed accounts market, projected to grow significantly by 2030. The merger with Lonsec Investment Solutions will create a leading managed account provider with over $25 billion in funds under management. The acquisition is expected to be earnings per share accretive and will enable GDG to realign its business operations, enhancing customer propositions and maintaining strong management alignment. The transaction exemplifies GDG’s growth strategy and commitment to offering comprehensive investment solutions.
More about Generation Development Group Limited
Generation Development Group Limited is a prominent entity in the investment management industry, focusing on managed account solutions. With its recent acquisition of Evidentia Group Holdings, it aims to solidify its position as a leader in this growing market.
YTD Price Performance: 27.88%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €844.8M
For an in-depth examination of GDG stock, go to TipRanks’ Stock Analysis page.
