InterQuest completes acquisition of Albany Beck Consulting

Recruitment business InterQuest has completed its acquisition of 95% of the issued share capital of London-based Albany Beck Consulting.

The acquisition will be satisfied via the issue of 13.3m new ordinary shares in InterQuest to Albany Beck's shareholders.

Albany Beck is a staffing and consulting firm based in London but operating in the UK and European financial markets, which InterQuest management believes will offer good crossover potential in both directions.

Following admission of the shares to AIM, the issued share capital of InterQuest will consist of 51.9 million ordinary shares, 30.2m of which will be held by chairman Gary Ashworth, giving him 58.16% of the firm's voting rights, which includes 22.5m ordinary shares held via Chisbridge, the company's major shareholder.

As of 1230 GMT, shares had fallen 8.11% to 17.00p.