Anika Begay
A logo on the headquarters of Hargreaves Lansdown Plc in Bristol, UK, on Thursday, August 8, 2024.
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British investment company Mr Hargreaves Lansdown said on Friday it had accepted a 5.4 billion pound ($6.9 billion) takeover offer from a group of investors including CVC Group.
The consortium also includes Abu Dhabi sovereign wealth fund and private equity investor Nordic Capital.
Under the deal, Hargreaves Lansdown shareholders will receive 1,110 pence per share and a dividend of 30 pence per share, the company said.
Hargreaves Landsdown chairwoman 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 substantial investment in a broad technology-led transformation to enhance HL’s proposition and resilience and to drive HL’s next phase of growth and development.”
“We look forward to working with HL management to accelerate its transformation plan, which includes investments in technology infrastructure, digital channels and service enhancements, all with customer value, service, speed of innovation and HL’s clear purpose at its core,” they added.
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