Brief: Tavistock Investment buys UK asset manager ABP for up to 18 mln stg

Tavistock Investments

22/11/2024 07:07

Nov 22 (Reuters) - Tavistock Investments PLC  TAVI.L :
    * TAVISTOCK INVESTMENT  - STRATEGIC ACQUISITION AND
COMPLETION OF
DISPOSAL
    * HAS EXCHANGED CONTRACTS FOR ACQUISITION OF ABP
    * ABP IS WELL-REGARDED ASSET MANAGEMENT BUSINESS BASED IN
LONDON
AND BATH WITH APPROACHING £3 BILLION OF ASSETS UNDER MANAGEMENT
    * INITIAL PAYMENT OF £6.0 MILLION AT COMPLETION OF
ACQUISITION
WITH MAXIMUM POTENTIAL CONSIDERATION CAPPED AT £18 MILLION

Source text:  ID:nRSV2251Na 
Further company coverage:  TAVI.L 

 (Reporting By Carolyn Cohn)
 ((carolyn.cohn@thomsonreuters.com;))