UK funding agency Hargreaves Lansdown agrees to $6.9 billion takeover by CVC consortium

British funding agency Hargreaves Lansdown stated on Friday it had agreed to a takeover supply 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 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 underneath the deal, the corporate stated.

Hargreaves Landsdown Chair Alison Platt stated in an announcement that the supply “represents a beautiful 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 in depth technology-led transformation to enhance HL’s proposition and resilience, and to drive the following part of HL’s development and improvement.”

“We sit up for 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 objective on the core,” they added.

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