IIFL Holdings to acquire Altiore Advisors

For a consideration of Rs 9.2 crore

IIFL Holdings announced that its wealth management subsidiary i.e. IIFL Wealth Management ("IIFLW") has entered into an agreement with Altiore Advisors ("Altiore") and its shareholders on 22 September 2018 to acquire 100% of the paid share capital of Altiore, at a consideration of Rs 9.2 crore. Upon completion of terms and conditions inter alia stated under the agreement, Altiore will become a wholly owned subsidiary of IIFLW and its employees will become part of IIFLW, entitled to agreed employment benefits.

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