NatWest to buy Evelyn partners in £2.7bn deal; Launches £750m buyback

(Sharecast News) - NatWest said it had agreed a deal to buy UK wealth manager Evelyn Partners from funds advised by Permira and Warburg Pincus for £2.7bn including debt and launching a new £750m share buyback. The bank on Monday said the deal would increase fee income by 20% pre-revenue synergies. Evelyn Partners has £69bn of assets under management compared with NatWest's £59bn.

Reporting by Frank Prenesti for Sharecast.com