Curtis Banks buys rival Suffolk Life in £45m deal

Curtis Banks said the acquisition would be funded by a share placement to raise £27m, new debt and revolving credit facility. The enlarged business will have assets under management of about £18n and more than 65,000 SIPPs under administration. The acquisition is subject to regulatory approval by the Financial Conduct Authority and the Prudential Regulation Authority. Curtis Banks said Suffolk Life is "highly complementary" to its existing business.  Suffolk Life managing director Will Self  said: "We are excited about the opportunities this deal will give. It will create the UK...