Millhouse Inc. PLC Australia

Millhouse, Inc. Plc acquires Avestra Capital Group
By: Wedgewood Communications
 
May 31, 2011 - PRLog -- Millhouse, Inc. Plc acquires Avestra Capital Group

London based Millhouse, Inc. Plc has acquired the Avestra Capital Group. Millhouse, Inc. Plc is listed on the Deutsche Borse.

Australia based Avestra Capital is a funds management business with operations in the East Coast of Australia. Avestra has an Australian Financial Services License and provides funds management back office, trustee and Responsible Entity Services.

Avestra also manages funds for retail and wholesale investors.

A spokesman for Avestra said that given the new regulatory regime in Australia, it believes there will be fewer firms providing these services and that it was time to be part of a larger listed entity. Avestra was very pleased to have a German stock listed company as a parent and looked forward to providing funds management skills sets to other entities in the group worldwide.

The Chairman of Millhouse, Inc. Plc, Mr Richard Walker said that the acquisition will enable his company to build and acquire market share in funds management businesses in a well regulated jurisdiction. He said that Australia is highly regarded for its large and growing funds management sector and would be able to export these skills to other countries.

Mr Walker said Millhouse, Inc. Plc believed there were significant consolidation opportunities in funds management in Australia and New Zealand.

“We are seeking funds management businesses who wish to be part of the Avestra Capital Group, he said.

Millhouse, Inc. Plc operates in five key sectors: funds management, private banking and wealth management, private business and consumer debt, energy and infrastructure financing, and private equity.
(http://www.millhouse.co/international)


ENDS
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