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Duke Royalty Limited cancels exclusive agreement with Oliver Wyman
Alternative capital solutions firm Duke Royalty Limited on Thursday mutually agreed with Oliver Wyman to end an exclusive healthcare collaboration stretching back to 7 September 2015.
The AIM-traded company said cancellation of the agreement stems from the fact that both parties found the sector focus to have been broader than originally envisaged, rendering an exclusive relationship to be "no longer relevant".
Duke Royalty also stated that the majority of its future pipeline transactions lie outside of the healthcare sector.
Neil Johnson, chief executive of Duke Royalty, said: "Our close relationship with Oliver Wyman will remain on a non-exclusive basis, although we are now well positioned to broaden our network of consultancies across different sectors."
The company intends to continue working with Oliver Wyman, supplementing the firm's due diligence efforts with relationships with additional global consulting firms which demonstrate expertise and local knowledge for investment opportunities.
Furthermore, Oliver Wyman will continue to be represented on Duke Royalty's independent investment committee.
As of 1028 BST, Duke Royalty Limited's shares were up 4.84% at 45.50p.