UK investment firm Hargreaves Lansdown agrees to be acquired for $6.9 billion by CVC consortium

British investment company Hargreaves Lansdown British company Virgin General said on Friday it had agreed a £5.4 billion ($6.9 billion) takeover offer from a group of investors, including CVC Group.

Abu Dhabi’s sovereign wealth fund and private equity investor Nordic Capital also participate in the consortium.

Hargreaves Lansdown shareholders will receive 1,110 British pence per share and a dividend of 30 pence per share under the deal, the company said.

Alison Platt, chair of Hargreaves Landsdown, said in a statement that the offer “represents an attractive opportunity for HL shareholders.”

Meanwhile, Bev Hooper of CVC Private Equity Group, Emil Anderson of Nordic Capital Advisors, and Hamad Shahwan Al Dhaheri of Abu Dhabi Investment Authority added that Hargreaves Landsdown “requires significant investment in a comprehensive, technology-led transformation to enhance HL’s offering and flexibility, and drive the next phase of HL’s growth and development.”

“We look forward to partnering with HL management to accelerate its transformation plan – including investment in technology infrastructure, digital channels and service improvements – all with a focus on customer value, service, speed of innovation and HL’s clear purpose,” they added.

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