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A logo on the headquarters of Hargreaves Lansdown Plc in Bristol, UK, on Thursday, Aug. 8, 2024.
British investment firm Hargreaves Lansdown has announced an agreement to accept a takeover bid worth approximately £5.4 billion ($6.9 billion) from a consortium of investors that includes CVC Group.
Alongside CVC Group, the consortium features the Abu Dhabi sovereign wealth fund and private equity firm Nordic Capital.
As part of the acquisition deal, Hargreaves Lansdown shareholders are set to receive 1,110 British pence per share along with an additional dividend of 30 pence per share. The company emphasized that this arrangement is designed to substantially reward its investors.
Alison Platt, Chair of Hargreaves Lansdown, expressed that the offer is “an attractive opportunity for HL Shareholders.” Her statement reflects a positive outlook on the deal and the anticipated benefits it brings to investors.
Representatives from the investor consortium, including Pev Hooper of CVC Private Equity Group, Emil Anderson from Nordic Capital Advisors, and Hamad Shahwan Aldhaheri from the Abu Dhabi Investment Authority, highlighted the potential for significant investment aimed at a technology-driven transformation of Hargreaves Lansdown. They noted that such advancements are crucial for enhancing the firm’s value proposition and stability, as well as for facilitating its future growth.
They mentioned, “We look forward to partnering with HL’s management to accelerate its transformation plan – including investment in technology infrastructure, digital channels, and service enhancement – all with client value, service, speed of innovation, and HL’s clear purpose at the core.”
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