CPU computershare limited.

News: CPU Computershare appointed by UKAR to undertake mortgage servicing

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    May 3 (Reuters) - Computershare Ltd (CPU) :

    • Cpu appointed by UKAR to undertake mortgage servicing (CPU)
    • Seven-year outsourcing contract covering £30BN of UKAR mortgages
    • Says entered into separate contracts for the servicing of the £11BN of assets

      purchased by Cerberus

    • Says contract is expected to start in mid-2016
    • Projected revenues £600M over 7 year period with 1,700 full time equivalent

      employees transferring to CPU

    • "Modestly EPS accretive in first year, profitable and cash flow positive

      throughout term"

    • Scope for significant cost savings and synergies across combined business,

      about £100m+ pbt expected over 7 year period

 
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