Frankfurt, Germany, Nov 15, 2012 - (ABN Newswire) - Millhouse, Inc. PLC, the Frankfurt Stock Exchange listed financial services group, has announced that it has signed an agreement to enable it to acquire the minority interest of a highly regarded financial services group in Sydney, Australia. This will bring its stake to 100%.
A published report from the Australian Securities and Investment Commission indicates that there is likely to be a consolidation in this sector of the Australian financial services sector and a need for up to A$109 million of new prudential capital for participants in the sector. This is consistent with the acquisition and consolidation strategy described in Millhouse, Inc. PLC's investor presentation and forthcoming prospectus for the Frankfurt Stock Exchange Entry Standard.
The Chairman, M. Philippe Paillart, speaking from Singapore, indicated that this acquisition will result in significant revenue and EBITDA contribution to the company. He said that he expects this acquisition will enable Millhouse, Inc. PLC to participate in and support the consolidation of the Australian financial services sector.
Millhouse, Inc. PLC recently appointed Peter Koch Gmbh Securities Trading Bank as a market maker for its shares in the Xetra2 Specialist Model on the Frankfurt Stock Exchange.
Peter Koch Gmbh Securities Trading Bank will assist Millhouse, Inc. PLC in the placement of its securities and work closely with its corporate advisers and investor relations teams in New York and Europe.
Millhouse, Inc. PLC intends to complete EBITDA accretive acquisitions in private banking, wealth management, investment, asset and funds management and private equity and debt markets. The positive cash flow from the acquisitions would be used for additional acquisitions as the company embarks on a rapid expansion phase in 2013. The company will also be sponsoring new IPO's on the Frankfurt Exchange as part of its private equity strategy.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements.
About Millhouse Inc. Plc:
Millhouse, Inc. PLC (FRA:M77.F - News) is a listed international diversified funds management business with its securities quoted on Deutsche Börse. Its business is to acquire existing businesses in funds management, investment management, and asset management across asset sectors. These acquisitions are conducted at historically low prices and capitalise on the considerable sunk costs invested by previous owners.
The company has a standard acquisition model based on warranted forward ebitda with the consideration payable over three years as a mix of equity and cash. Each acquisition is ebitda positive and cash generating. Business operations exist in Australia, Singapore, Germany and other countries as the acquisitions program rolls out. http://www.millhouse.co
Millhouse Inc. Plc Level 27, 101 Collins Street Melbourne, VIC 3000 Australia TEL: +61-3-9221-6195 FAX: +61-3-9653-6129
Millhouse Inc. Plc
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