Hargreaves Lansdown buyers get deal approval from Switzerland

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The buyers of Hargreaves Lansdown PLC gained a further regulatory approval for the planned acquisition, according to a statement on Wednesday.

Hargreaves Lansdown, the Bristol-based wealth management platform, in August had accepted a £5.44 billion offer from a consortium of private equity buyers.

A consortium, made up of CVC Private Equity Funds, Nordic Capital XI Delta and Platinum Ivy B 2018 RSC Ltd, a wholly-owned subsidiary of the Abu Dhabi Investment Authority, agreed to pay 1,140 pence per share cash for each Hargreaves Lansdown share.

This includes a dividend of 30p per Hargreaves Lansdown share in respect of the financial year to June 30.

CVC Advisers Ltd said that on Tuesday, the Swiss Competition Commission unconditionally approved the planned acquisition.

The transaction is still subject to antitrust clearance from Turkish authorities and a receipt of approval of the change in control of some regulated entities within the HL Group by the UK Financial Conduct Authority.

Hargreaves Lansdown shares were up 0.2% at 1,083.00 pence each on Wednesday morning in London.

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