December 20, 2017 / 9:25 PM / a year ago

BRIEF-Boston Private Financial Holdings Announces Agreement To Sell Anchor Capital Advisors Llc

Dec 20 (Reuters) - Boston Private Financial Holdings Inc :

* BOSTON PRIVATE FINANCIAL HOLDINGS, INC. ANNOUNCES AGREEMENT TO SELL ANCHOR CAPITAL ADVISORS LLC

* BOSTON PRIVATE FINANCIAL HOLDINGS INC - WILL RECEIVE APPROXIMATELY $32 MILLION OF CASH AT DEAL LOSING

* BOSTON PRIVATE FINANCIAL - AFFILIATE OF LINCOLN PEAK CAPITAL MANAGEMENT WILL ACQUIRE A MINORITY INTEREST IN ANCHOR ALONGSIDE MANAGEMENT

* BOSTON PRIVATE FINANCIAL HOLDINGS - TRANSACTION TO RESULT IN ANCHOR BEING MAJORITY OWNED BY MEMBERS OF ITS MANAGEMENT TEAM

* BOSTON PRIVATE FINANCIAL HOLDINGS - ESTIMATES THAT FINANCIAL IMPACT OF TRANSACTION WILL RESULT IN A NON-CASH PRE-TAX CHARGE OF ABOUT $25 MILLION IN Q4 FY17​

* BOSTON PRIVATE FINANCIAL - WILL ALSO GET FUTURE REVENUE SHARE PAYMENTS THAT HAVE A NET PRESENT VALUE OF APPROXIMATELY $15 MILLION AT DEAL CLOSING

* BOSTON PRIVATE FINANCIAL - DEAL APPROVED BY COMPANY'S BOARD OF DIRECTORS AND IS SUBJECT TO OBTAINING CLIENT CONSENTS, ANCHOR RAISING DEBT FINANCING Source text for Eikon: Further company coverage:

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