Royal Bank of Canada (TSX:RY) reached an agreement to acquire Brewin Dolphin Holdings PLC (LSE:BRW) for £1.6 billion on March 31, 2022. As per the transaction, Royal Bank of Canada will pay consideration of 515 pence per Brewin Dolphin Share to all the shareholders. Royal Bank of Canada will finance the cash consideration from existing cash resources. As on May 16, 2022, Competition and Consumer Protection Commission clears proposed acquisition. The transaction is subject to court approval, shareholder's approval of Brewin Dolphin Holdings PLC, Antitrust approval and approval by regulatory authorities and is expected to become effective by the end of the third calendar quarter of 2022. As per the filing on April 22, 2022, Brewin Dolphin Directors recommend unanimously that Scheme Shareholders vote in favour of the Scheme at the Court Meeting and that Brewin Dolphin Shareholders vote in favour of the Resolution to be proposed at the General Meeting. On May 23, 2022, Majority of Brewin Dolphin Shareholders voted to pass the Special Resolution. On September 12, 2022, Brewin Dolphin and Bidco were notified that the final regulatory approval, being the approval of the Office of the Superintendent of Financial Institutions (Canada), had been provided. Transaction is still conditional upon sanction of the Scheme by the Court at the Court Hearing and the delivery of a copy of the Court Order to the Registrar of Companies for registration. The date of the Court Hearing to sanction the Scheme will be September 23, 2022. Applications have also been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange ("LSE") in relation to the de-listing of Brewin Dolphin Shares. On September 23, 2022, the High Court of Justice of England and Wales had sanctioned the Scheme at the Sanction Hearing on. Scheme will be effective on September 27, 2022.

Oliver Asplin Hearsey, Paul Lim, Daniel Cohen and Daniel Gonzalez of RBC Europe Limited acted as financial advisor and Norton Rose Fulbright LLP acted as legal advisor to Royal Bank of Canada. Stuart Muress, Robert Mayhew, Callum West, Milan Solanki and Marco Dell'Aria Burani of Barclays Bank PLC and William Rucker, Nicholas Millar, Denis Martin and Stephen Dibsdale of Lazard & Co., Limited acted as financial advisors and Travers Smith LLP acted as legal advisor to Brewin Dolphin Holdings PLC.

Royal Bank of Canada (TSX:RY) completed the acquisition of Brewin Dolphin Holdings PLC (LSE:BRW) on September 27, 2022. The listing of Brewin Dolphin Shares on the premium segment of the Official List of the Financial Conduct Authority and the admission to trading of Brewin Dolphin Shares on the Main Market of the London Stock Exchange for listed securities were suspended with effect from on September 27, 2022. All of the directors of Brewin Dolphin board have resigned effective September 27, 2022, other than Robin Beer and Siobhan Boylan, who will remain on the Board. In addition, David Thomas, Peter Dixon, Ayesha Patel and David Bailey have been nominated by Royal Bank and appointed to the Board with effect from September 27, 2022.