KWAC Kingswood Acquisition Corp

--New York-listed Kingswood Acquisition Corp. has signed a letter of intent to buy U.K. wealth-management group Lombard, Sky News reports.

--The deal could value Lombard, which has been owned by Blackstone Group Inc. since 2014, at around 700 million euros ($835.3 million), according to Sky News.

--This would be one of the first takeovers of a British-based financial services business by a New York-listed special purpose acquisition company, Sky News reports.

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(END) Dow Jones Newswires

March 23, 2021 08:38 ET (12:38 GMT)

Kingswood Acquisition (NYSE:KWAC)
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