Share Name Share Symbol Market Type Share ISIN Share Description
Tp Icap Plc LSE:TCAP London Ordinary Share GB00B1H0DZ51 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.80 -1.46% 189.40 189.20 189.50 191.70 184.50 188.60 1,792,722 16:35:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1,833.0 93.0 12.0 15.8 1,050

TP ICAP PLC Acquisition of Louis Capital

31/07/2020 1:43pm

UK Regulatory (RNS & others)

Tp Icap (LSE:TCAP)
Historical Stock Chart

From Jul 2020 to Oct 2020

Click Here for more Tp Icap Charts.


RNS Number : 8062U


31 July 2020


31 July 2020

TP ICAP plc announces the acquisition of Louis Capital Markets and MidCap Partners

Further to its announcement on 23 December 2019, TP ICAP plc ( " TP ICAP " ) announces that it has today completed the acquisition of Louis Capital Markets and MidCap Partners (collectively "Louis Capital"), a private brokerage group specialising in equities and fixed income, primarily based in Europe.

Louis Capital operates in London and Paris, with other offices in New York and Hong Kong. The group has 80 front-office employees and specialises in cash equities and equity derivatives, fixed income and small cap advisory services. Michael Benhamou and Patrice Cohen who founded and led Louis Capital will remain as senior management.

Louis Capital will become part of TP ICAP's Global Broking division which provides high value inter-dealer broking services to top-tier banks in long-term established relationships. The acquisition builds on the successful acquisition track record of TP ICAP and will complement and strengthen the Group's offering in Continental Europe.

Transaction details:

The initial consideration paid for the acquisition was $21 million in cash (which is subject to adjustment based on the level of regulatory capital, working capital and net cash in Louis Capital as at today's date) with deferred non-contingent consideration of $6 million payable over two years. There is a further $17 million of deferred contingent consideration that may be payable dependent upon the performance of the business over three to five years. Finally, there is potential additional consideration via a profit share dependent upon the performance of the business. These subsequent payments will be satisfied through cash payments. TP ICAP expects the acquisition to be earnings accretive from the first year of acquisition on an underlying basis and from the second year on a reported basis.

Nicolas Breteau, CEO of TP ICAP, said, "The acquisition of Louis Capital demonstrates our growing appetite to complement our existing offering with high quality brands. Louis Capital's breadth of equity, equity derivatives and fixed income products will strengthen TP ICAP's position in Continental Europe."




Analysts and investors

Al Alevizakos

+44 (0) 203 933 3040


William Baldwin-Charles

+44 (0) 207 200 7124


TP ICAP brings together buyers and sellers in global financial, energy and commodities markets. It is the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, data & analytics and market intelligence, trusted by clients around the world. We operate from offices in 26 countries, supporting award-winning brokers with market-leading technology.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit



(END) Dow Jones Newswires

July 31, 2020 08:43 ET (12:43 GMT)

1 Year Tp Icap Chart

1 Year Tp Icap Chart

1 Month Tp Icap Chart

1 Month Tp Icap Chart
ADVFN Advertorial
Your Recent History
Tp Icap
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20201028 20:44:57