Financial services firm Vistra has agreed to purchase trust, corporate and fiduciary service provider Newhaven for an undisclosed sum.
This transaction “will expand Vistra’s company formation and private wealth businesses”, it said in a statement.
Newhaven is based in BVI, Dubai, Guernsey, Hong Kong and Mauritius.
Reuben Anstock, Newhaven chief executive, and his senior management team will remain with the business in senior roles. Newhaven will be rebranded to Vistra upon completion of the transaction.
Jonathon Clifton, regional managing director at Vistra, said: “This acquisition aligns nicely with the strategic objectives for Vistra where we continue to look for ways to improve the services we provide to our clients.
“Newhaven brings to Vistra additional talent and expertise and bolsters our position as a leading incorporation services provider, particularly in the BVI market, and further strengthens our front office capabilities in Hong Kong.”
The deal is subject to regulatory approvals in various jurisdictions.