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Dutch trust operator Intertrust buys Elian for 435 million pounds

Reuters - UK Focus

(Repeats to add Reuters Instrument Code for Electra (Tel Aviv: ELTR.TA - news) )

AMSTERDAM, June 6 (Reuters) - Intertrust (Amsterdam: 29887766.AS - news) plans to buy rival Elian for 435 million pounds ($625.31 million) from private equity firm Electra to expand in the Cayman Islands, Guernsey, Luxembourg and the Netherlands, the Dutch trust firm said on Monday.

Intertrust will pay for the deal through a mix of cash, shares and assumed debt, and said the purchase would increase group earnings by 20 percent per share by 2018, due to cost savings and cross-selling advantages.

Intertrust said that Elian expects full-year 2017 revenue of 96 million pounds ($138.00 million) and earnings before interest, taxes, depreciation and amortisation of 36 million pounds.

(Reporting by Toby Sterling, editing by Louise Heavens)