A brand on the headquarters of Hargreaves Lansdown Plc in Bristol, UK, on Thursday, Aug. 8, 2024.
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British funding agency Hargreaves Lansdown mentioned on Friday it had agreed to a takeover provide equal to £5.4 billion ($6.9 billion) by a gaggle of traders together with CVC Group.
Abu Dhabi’s sovereign wealth fund and personal fairness investor Nordic Capital can also be a part of the consortium.
Hargreaves Lansdown shareholders will get 1,110 British pence per share and a dividend of 30 pence per share beneath the deal, the corporate mentioned.
Hargreaves Landsdown Chair Alison Platt mentioned in a press release that the provide “represents a lovely alternative for HL Shareholders.”
In the meantime, Pev Hooper from CVC Non-public Fairness Group, Emil Anderson from Nordic Capital Advisors and Hamad Shahwan Aldhaheri from the Abu Dhabi Funding Authority added that Hargreaves Landsdown “requires substantial funding in an intensive technology-led transformation to enhance HL’s proposition and resilience, and to drive the subsequent section of HL’s progress and improvement.”
“We look ahead to partnering with HL’s administration to speed up its transformation plan – together with funding in know-how infrastructure, digital channels, and repair enhancement – all with consumer worth, service, velocity of innovation, and HL’s clear function on the core,” they added.
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