Dresdner set to prepare Charter rollover vehicle

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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...

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