Elite Asset Management Plc's subsidiary Elite Sijoitus Oy buys Auta Invest Oy and Smart Money Oy

Helsinki, FINLAND

Elite Asset Management Plc, Company Announcement, 17 August 2017 at 11:30 a.m. (EET)
Elite Asset Management Plc's subsidiary Elite Sijoitus Oy buys Auta Invest Oy and Smart Money Oy
Elite Asset Management Plc's subsidiary Elite Sijoitus Oy ("Elite") and the owners of Auta Invest Oy and Smart Money Oy have today signed two sale and purchase agreements by which Elite acquires all of both Auta Invest Oy's and Smart Money Oy's outstanding shares. The acquired companies act as tied agent companies marketing investment and asset management services.
As a result of the acquisition, the founder of Auta Invest Oy, Sami Sillgren, and the founder of Smart Money Oy, Tomi Haapala, are starting as private bankers in Elite Asset Management after a transition period. The acquisition is in line with Elite Asset Management's strategy, according to which the company strives to expand its organization of customer service and sales nationwide. Elite will open a new office in Espoo in the near future. Sami Sillgren has been appointed as the branch manager of the Espoo office beginning 1 January 2018.
"We are delighted that we reached an agreement with Sami Sillgren and Tomi Haapala enabling their transition to Elite. Both Sillgren and Haapala have an excellent attitude and strong track record working as private bankers, which we appreciate. Our new office allows us to serve our present and future customers in the West Uusimaa region even closer to them", says Daniel Pasternack, CEO of Elite Asset Management.
"Elite Asset Management is a rapidly growing investment firm that manages its customers' assets as a whole. In particular, Elite's advisory services and flexible operating environment were decisive in making our decision to move to Elite", says Sami Sillgren and Tomi Haapala.
The acquisition is not expected to have a significant impact on Elite Asset Management's 2017 financial result. The parties have agreed that the purchase price will not be disclosed.
Board of Directors
Further information:
Elite Asset Management Plc
Daniel Pasternack, CEO
+358 50 569 3416
Kari Juurakko, Chairman of the Board
+358 50 582 7411
Certified Advisor Merasco Ltd
Telephone: +358 9 6129 670
Elite Asset Management Plc is a profitable and growing investment service company offering versatile and high-quality asset management services for both consumer and professional investors. Elite Asset Management Plc is listed on the First North Finland market maintained by NASDAQ Helsinki (Helsinki Exchanges). Elite Asset Management Plc is the parent company of the Elite Group (Elite). Elite's customer base consists of individuals and corporations that the company serves nationwide in 13 different locations. The first company belonging to the current Elite Group was founded in 2000. Elite employs about 80 investment professionals and over 30 tied agents. On behalf of its clients, the company manages assets of approximately EUR 3 billion in total. Check out Elite's services at www.elitevarainhoito.fi.
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