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Hargreaves Lansdown expects takeover by CVC-led consortium to complete in Q1 2025
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(Reuters) – Hargreaves Lansdown, Britain’s largest
(Reuters) – Hargreaves Lansdown, Britain’s largest investment platform, said on Tuesday it expects the completion of its agreed 5.4 billion pound ($7 billion) takeover by an international consortium in the first quarter of 2025.
The consortium, consisting of Europe’s largest private equity firm CVC Capital Partners, Abu Dhabi’s sovereign wealth fund and Swedish private equity firm Nordic Capital had offered 11.40 pounds per share in cash for Hargreaves Lansdown.
Hargreaves Lansdown also said its assets under administration (AUA) rose to 157.3 billion pounds as of Sept. 30, from 155.3 billion pounds at the end of June. ($1 = 0.7701 pounds)
(Reporting by Shanima A in Bengaluru; Editing by Savio D’Souza)
A takeover occurs when one company acquires control of another company, typically by purchasing a majority of its shares. This can lead to changes in management and business strategy.
Assets under administration (AUA) refer to the total market value of assets that a financial institution manages on behalf of its clients. This metric is crucial for assessing the size and performance of investment firms.
Private equity involves investment funds that buy and restructure companies not listed on public exchanges. These investments aim to improve profitability and eventually sell the company at a profit.
A sovereign wealth fund is a state-owned investment fund that invests in various assets, including stocks, bonds, real estate, and other financial instruments, to achieve long-term financial returns for the country.
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