This article was originally published by our sister title, Portfolio Adviser
The takeover of British financial services company Hargreaves Lansdown by a private equity consortium has moved closer to completion following approval from Swiss regulators.
In a stock exchange announcement on 9 October, CVC Advisers announced the consortium had received approval for the acquisition from the Swiss Competition Commission.
The private equity consortium is made up of CVC Advisers Limited, Nordic Capital, and Platinum Ivy, a subsidiary of Abu Dhabi Investment Authority, under the newly-formed bidding company Harp Bidco.
The deal is set to be implemented by a court-sanctioned scheme of arrangement.
The investment platform’s board has recommended that shareholders vote in favour of the acquisition, with the deal expected to close in the first quarter of 2025.
