Capita extends fund admin capabilities

Subject to approval from the financial Services Authority (FSA), the deal will see Capita paying iimia up to £12m for Sinclair Henderson, Sinclair Henderson Fund Administration and ACD Services. Under the deal, iimia will receive an initial cash consideration of £10.5m, while a further £1.5m could be payable subject to agreed business development targets in the first two year’s of Capita’s ownership. In addition to the three UK based companies, Capita will also gain control of the offshore branch, Sinclair Henderson (Guernsey), subject to the approval of Guernsey Financial Services Co...