The £1.49bn acquisition of a direct investment platform with £55bn of assets under administration (AUA) and more than 400,000 customers has completed.
interactive investor (II) has been snapped up abrdn after it received the regulatory consents and shareholders approval required to conclude the transaction.
II has been acquired from its shareholders, including a fund advised by private equity firm JC Flowers & Co and key members of II’s management.
abrdn said it intends to operate II as a standalone business within its personal division, with its own management team and operational platform.
Reas more: Insider Media