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
News: CPU Computershare appointed by UKAR to undertake mortgage servicing
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