The logo at the Hargreaves Lansdown Plc headquarters in Bristol, UK, Thursday, August 8, 2024.
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british investment corp. Hargreaves Landown The company said on Friday it had agreed to a takeover bid worth 5.4 billion pounds ($6.9 billion) from investors including CVC Group.
Abu Dhabi-based sovereign wealth fund and private equity investor Nordic Capital is also a member of the consortium.
Under the deal, Hargreaves Lansdown shareholders will receive a dividend of 1,110 pence per share and a dividend of 30 pence per share, the company said.
Hargreaves Landsdown chairman Alison Platt said in a statement that the offer “represents an attractive opportunity for HL shareholders”.
Meanwhile, Pev Hooper of CVC Private Equity Group, Emil Anderson of Nordic Capital Advisors and Hamad Shahwan Aldhaheri of the Abu Dhabi Investment Authority added that Hargreaves Landsdown “requires significant investment in a broad technology-led transformation to enhance HL’s proposition and Resilience and drive HL’s next phase of growth and development.
They added: “We look forward to working with HL management to accelerate its transformation plan, including investments in technology infrastructure, digital access and service enhancements, all centered on customer value, service, speed of innovation and HL’s clear purpose .
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