Sanne Group plc (LSE:SNN) entered into an agreement to acquire International Financial Services Limited from Couldiplall Basanta Lala, Anupama Basanta Lala, Divya Basanta Lala and Kapil Dev Joory for approximately $130 million in cash and stock on November 30, 2016. As a part of consideration, Sanne Group will pay $91.1 million in cash and will issue 5.8 million shares of Sanne Group. The cash consideration will be financed through the net proceeds of the capital raising of £90.1 million ($112.12 million). In the year ended December 31, 2015, International Financial Services reported revenue of $28.2 million and operating profit of $18.4 million. Anupama Basanta Lala and Divya Basanta Lala will be employees of the IFS Group post-Completion. All employees of the IFS Group will continue to be employed by the enlarged group following completion. The deal is subject to receipt of proceeds from the capital raising, approval of Sanne Group's shareholder and obtaining regulatory clearance from the Mauritius Financial Services Commission. The deal has been approved by the shareholders of Sanne Group and the deal remains subject to regulatory clearances. The deal is expected to close in the first quarter of 2017. The Board of Sanne expects the acquisition to materially enhance earnings for the Group in the year to December 31, 2017. Garry Levin, James Ireland and Ed Thomas of Investec Bank plc acted as the financial advisor for Sanne Group. Matt Lewis and Neil Coleman of Investec Bank plc acted as the broker for Sanne. Tom Murray and Stephen Malthouse of Tulchan Communications LLP acted as the public relations advisor for Sanne Group plc. MCB Capital Markets Limited acted as financial advisor, Carey Olsen Group Services Limited acted as legal advisor and PricewaterhouseCoopers LLP acted as an accountant to Sanne Group plc. The currency conversion has been done from www.oanda.com as on November 30, 2016. Sanne Group plc (LSE:SNN) completed the acquisition of International Financial Services Limited on January 1, 2017. The deal was completed, following the receipt of regulatory approval.