Brief: Link Administration Announces Sale Of Fund Solutions, Settlement With FCA

Link Administration Holdings

20/04/2023 02:11

April 20 (Reuters) - Link Administration Holdings Ltd
 LNK.AX :
    * LINK GROUP SALE OF FUND SOLUTIONS AND SETTLEMENT WITH FCA
    * LINK GROUP SALE OF FUND SOLUTIONS BUSINESS AND SETTLEMENT
WITH
FCA
    * AGGREGATE CONSIDERATION VALUE OF BETWEEN £110 MILLION AND
£140
MILLION
    * FCA HAS CONFIRMED ITS INTENTION TO SUPPORT SCHEME
    * SCHEME WILL PROVIDE THAT PAYMENT OF AMOUNTS TO WEIF
INVESTORS
    * LINK GROUP HAS AGREED TO CONTRIBUTE TO LFSL ALL OF THE
AVAILABLE
CONSIDERATION TO BE RECEIVED FROM THE WAYSTONE GROUP
    * SALE OF FUND SOLUTIONS BUSINESS IS TARGETED TO COMPLETE BY
OCTOBER 2023
    * RE-AFFIRMS ITS FY23 GUIDANCE PROVIDED AT 1H FY23 RESULTS
WITH
EXPECTATIONS OF OPERATING EBIT TO BE UP 10%-12% ON FY22

Source text for Eikon:  ID:nASX5RTm28 
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 ((Reuters.Briefs@thomsonreuters.com;))