MLP
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MLP finalises takeover of the financial broker ZSH

  • All shareholders vote in favour of takeover bid
  • Market position among medical professionals further improved
Wiesloch, 21st January 2009 - MLP is purposefully expanding its market position among medical professionals and has therefore acquired the independent financial brokerage company ZSH. All company shareholders have approved the corresponding bid. The agreement budgets for a purchase price of some Euro 11.3 million, which MLP will cover with cash holdings. A variable acquisition price component will be added, which will be determined by the business success of ZSH up until 31 March 2009 and will amount to around Euro 0.6 million.

ZSH was founded in 1973 and, with some 80 consultants, manages approximately 50,000 wealthy private clients, doctors and dentists in all provisional insurance and financial planning issues.

“Just like MLP, ZSH is distinguished by an independent consulting approach as well as a clear customer focus and therefore fits in perfectly with our business model”, comments MLP Chief Executive Officer Dr. Uwe Schroeder-Wildberg.

Until now the main shareholders at ZSH were the company’s founder Wolfgang Zech, the AXA Lebensversicherungs AG and the Alte Leipziger Lebensversicherung a.G., who all together held a capital share of some 84 percent in ZSH GmbH & Co. KG including the trust contingent held by Mr. Zech. A further eleven percent is accounted for by the employees and consultants. In the past three years ZSH has posted an annual turnover of between 14 and 16 million Euros.