HSBC has estimated that Dresdner will attract a maximum of £175m for the rollover vehicle of its £43...
HSBC has estimated that Dresdner will attract a maximum of £175m for the rollover vehicle of its £430m Charter European Trust. Charter is being wound up following an unsuccessful bid by Henderson Global Investors to acquire it as a rollover vehicle for its split cap Henderson Eurotrust. Hendersons' proposals received strong backing from three of Charter's largest institutional shareholders, AMP, Equitable Life and Standard Life, who held 29.2% of the shareholder base. The three are now looking to take a cash exit from Charter. Charles Cade, investment trust analyst at HSBC, said he beli...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes