RNS Number : 0453C
CVC Advisers Limited
25 March 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE
25 March 2025
RECOMMENDED FINAL CASH ACQUISITION
of
Hargreaves Lansdown plc ("HL")
by
Harp Bidco Limited ("Bidco")
(a newly formed company indirectly owned by CVC Private Equity Funds, Nordic Capital XI Delta, SCSp (acting through its general partner, Nordic Capital XI Delta GP SARL) and Platinum Ivy B 2018 RSC Limited)
DE-LISTING AND CANCELLATION OF TRADING
Further to the announcement made by HL and Bidco on 24 March 2025 that the Scheme relating to the acquisition of HL by Bidco had become Effective, HL confirms that, following applications made on behalf of HL, the FCA has cancelled the listing of HL Shares on the equity shares (commercial companies) category of the Official List and the London Stock Exchange has cancelled the trading of HL Shares on its main market for listed securities, in each case with effect from 8.00 a.m. today, 25 March 2025.
Capitalised terms used but not defined in this announcement have the meanings given to them in the scheme document published on 6 September 2024 (the "Scheme Document"). Full details of the Acquisition are set out in the Scheme Document.
All references to times in this announcement are to London, United Kingdom time.
Enquiries:
Hargreaves Lansdown plc
James Found, Head of Investor Relations
+44 (0) 7970 066 634
Lucy Thomas, Corporate Affairs Director
+44 (0) 7779 639 460
Fenchurch Advisory Partners (Lead Financial Adviser to HL) Kunal Gandhi Rob Williams Graham Marchant Josh Needham Aoife Byrne
+44 (0) 20 7382 2222
Barclays Bank PLC, acting through its Investment Bank (Joint Financial Adviser and Corporate Broker to HL) Alisdair Gayne Adrian Beidas Richard Bassingthwaighte Callum West Stuart Muress
+44 (0) 20 7623 2323
Deutsche Numis (Joint Financial Adviser and Corporate Broker to HL) Charles Farquhar Daniel Werchola Derek Shakespeare Rajesh Iyer Oliver Harding
+44 (0) 20 7260 1000
Morgan Stanley & Co. International plc (Special Financial Adviser to the Independent HL Board) Gillian Sheldon Ben Grindley Adrian Doyle Nishil Bhagani
+44 (0) 20 7425 8000
Brunswick (PR Adviser to HL) Nick Cosgrove Joanna Donne
+44 (0) 20 7404 5959
CVC Private Equity Group Carsten Huwendiek Nick Board
+44 (0) 20 7420 4200
Nordic Capital Elin Ljung (of Nordic Capital Advisors)
+46 8 440 5050
Platinum Ivy Garry Nickson
+971 2 415 0000
Goldman Sachs International(Financial Adviser to Bidco and the Consortium) Mark Sorrell Nick Harper Cara Pazdon Camila Rodriguez-Bedoya
+44 (0) 20 7774 1000
FGS Global (PR Adviser to Bidco and the Consortium) Guy Lamming Mike Turner Anjali Unnikrishnan
+44 (0) 20 7251 3801
Freshfields LLP is acting as legal adviser to HL.
Kirkland & Ellis International LLP is acting as legal adviser to Bidco and Nordic Capital XI Delta. Latham & Watkins (London) LLP is acting as legal adviser to CVC. Linklaters LLP is acting as legal adviser to Platinum Ivy.
Important notices relating to financial advisers
Fenchurch Advisory Partners LLP ("Fenchurch"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for HL and no one else in connection with the Acquisition described in this announcement and accordingly will not be responsible to anyone other than HL for providing the protections afforded to its clients nor for providing advice in relation to the matters described in this announcement.
Barclays Bank PLC ("Barclays"), acting through its Investment Bank, is authorised by the PRA and regulated in the United Kingdom by the FCA and the PRA, is acting exclusively for HL and no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than HL for providing the protections afforded to clients of Barclays nor for providing advice in relation to the Acquisition, the content of this announcement or any other matter referred to in this announcement.
Numis Securities Limited ("Deutsche Numis"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for HL and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than HL for providing the protections afforded to clients of Deutsche Numis, nor for providing advice in relation to any matter referred to herein. Neither Deutsche Numis nor any of its affiliates (nor any of their respective directors, officers, employees or agents), owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Deutsche Numis in connection with this announcement, any statement contained herein or otherwise.
Morgan Stanley & Co. International plc ("Morgan Stanley") which is authorised by the PRA and regulated by the FCA and the PRA in the United Kingdom is acting as special financial adviser exclusively for the Independent HL Board and no one else in connection with the matters contained in this announcement. Morgan Stanley, its affiliates and their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any person other than the Independent HL Board for providing the protections afforded to clients of Morgan Stanley or for providing advice in connection with the matters contained in this announcement or any other matter referred to herein.
Goldman Sachs International ("Goldman Sachs"), which is authorised by the PRA and regulated by the FCA and the PRA in the United Kingdom is acting exclusively for Bidco and the Consortium as financial advisers and no one else in connection with the Acquisition and other matters set out in this announcement and will not be responsible to anyone other than Bidco and the Consortium for providing the protections afforded to clients of Goldman Sachs, nor for providing advice in connection with the Acquisition, the content of this announcement or any matter referred to herein. Neither Goldman Sachs nor any of Goldman Sachs' subsidiaries, affiliates or branches owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Goldman Sachs in connection with this announcement, any statement contained herein or otherwise.
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