AJ Bell named 'good fit' for potential Cofunds acquisition

According to reports, AJ Bell has agreed a four-week exclusivity period as it bids to acquire Cofunds' retail arm from owner L&G. L&G paid £131m to take full ownership of the platform in 2013, buying out the shares of Threadneedle, Jupiter, Prudential and Newhouse Capital Partners to increase its stake from 25% to 100%. It is then believed to have put the platform up for sale in June 2015, just over two years after the acquisition. In response to the report, platform commentators said an acquisition by AJ Bell, which has £26bn in assets under administration, would be a "sensible mo...