Allfunds abandons talks about potential sale, Bloomberg reports (updated)

Allfunds

23/04/2024 20:19

(adds details from the media report and background)
       April 23 (Reuters) - Allfunds Group Plc  ALLFG.AS  has
abandoned discussions over a potential sale of the European fund
distribution company, Bloomberg News reported on Tuesday, citing
people with knowledge of the matter.
    Allfunds received several interests for a deal, but the
company's board decided not to proceed with the sale, as the
offers didn't fully reflect its growth prospects, the report
said.
    The Amsterdam-listed group received takeover interest from
SIX Group early this year, sources told Reuters, which the Swiss
stock market operator later ruled itself out of in March.
        Allfunds's largest shareholder Hellman & Friedman is
supportive of the company's decision to call off a potential
sale, the Bloomberg report added. 
    Allfunds declined to comment on the report, when contacted
by Reuters.
    The group on Tuesday reported a 4% rise in total net
revenues for the first quarter.

 (Reporting by Kanjyik Ghosh and Harshita Meenaktshi; Editing by
Shailesh Kuber)
 ((Kanjyik.Ghosh@thomsonreuters.com;))