LINK GROUP (LNK) has announced today they will acquire UK-based CAPITA ASSET SERVICES (CAS).  Link Group has entered into a binding agreement to CAS for £888 million (~A$1,493 million). The acquisition is subject to mandatory regulatory approvals and is expected to complete by 31 December 2017.

“CAS is highly complementary to Link Group and represents an attractive platform for our company’s further expansion into the UK and European markets.”

Link Group announced the Entitlement Offer to raise approximately A$883 million. Proceeds from the Entitlement Offer will be used to partly fund the acquisition. The Institutional Entitlement Offer is expected to raise approximately A$700 million from subscriptions for new fully paid ordinary shares in Link Group ("New Shares") at A$6.75 per New Share ("Offer Price").

Eligible institutional shareholders who elected not to take up their entitlements and certain ineligible institutional shareholders will receive A$0.95 for each entitlement sold through the Institutional Bookbuild.

J.P. Morgan Australia Limited is acting as financial adviser to Link Group and Sole Global Coordinator, Joint Lead Manager, Joint Bookrunner and Joint Underwriter to the equity raise. Citigroup Global Markets Australia Pty Limited is acting as Joint Lead Manager, Joint Bookrunner and Joint Underwriter. DLA Piper and Allen & Overy are serving as legal advisers to Link Group.

For further information please see www.linkgroup.com