Finance
CVC, ADIA to Buy Hargreaves Lansdown in £5.4 Billion Deal
- Group to pay 1,140 pence per share for UK investment platform
- Co-founder Peter Hargreaves agrees to invest half of his stake
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A group of private equity suitors have agreed to buy Hargreaves Lansdown Plc in a deal that values the UK investment platform at £5.4 billion ($6.9 billion).
Hargreaves Lansdown is unanimously recommending shareholders support the offer by CVC Capital Partners, Nordic Capital and a subsidiary of Abu Dhabi Investment Authority, according to a statement on Friday. The price of 1,140 pence per share includes 30 pence for its 2024 final dividend, and represents a 54.1% premium to Hargreaves’s close on April 11, the last business day before the group’s initial approach to the board.