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Millhouse, Inc. Plc (FRA:M77) Enters into Negotiations to Acquire International Branded Social Media Platform.

London, United Kingdom, May 30, 2012 - (ABN Newswire) - London based Millhouse, Inc. Plc (FRA:M77) has commenced final negotiations to acquire 100% of a major well known internationally branded social media platform. The parties are exchanging contracts this week, a spokesman said.

The spokesman for Millhouse said that the platform would be grown in its own right but growth would be significantly faster as the financial social media platform for the group giving a greater value to the asset. There are many internal management uses and a suite of add-on applications for subscribers which can drive revenue to the site.

The Chairman of Millhouse, Inc. Plc, Mr. Philippe Paillart said that the acquisition will enable his company to build its investor relations functions worldwide and service those investors on a real time basis. It will also be used to facilitate communications with clients, employees and other stakeholders by the use of in-house social media accounts.

Millhouse, Inc. Plc is listed on the Deutsche BE[micro]rse and acquires funds management businesses worldwide.

Mr. Paillart said Millhouse, Inc. Plc believed there were significant consolidation opportunities in funds management in most countries.

"We are seeking funds management and private banking businesses that wish to be part of the Millhouse 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. The company is based in London and its securities listed on the Deutsche BE[micro]rse in Frankfurt.

The social media platform complements other existing in-use social media technology in the Millhouse, Inc. PLC group.

About Millhouse Inc PLC

Millhouse, Inc. PLC is a listed international diversified funds management business with its securities quoted on Deutsche BE[micro]rse. Its business is to acquire existing businesses in funds management, investment management, and asset management across asset sectors. These acquisitions are conducted at historically low prices and capitalise on the considerable sunk costs invested by previous owners.

The company has a standard acquisition model based on warranted ebitda with the consideration payable over three years as a mix of equity and cash. Each acquisition is ebitda positive and cash generating. Business operations exist in Australia, Singapore, Germany and other countries as the acquisitions program rolls out.


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Publication:ABN Newswire
Geographic Code:4EUUK
Date:May 30, 2012
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