Sanlam UK to acquire Tavistock Financial for £1m

Completion of the acquisition, which is part of Tavistock Investments' new focus on building closer relationships with its advisory partner firms, is subject to regulatory approval, which the company anticipated would be granted "in the near future". Tavistock Investments said it would use the total cash consideration of £1m, which is payable in full on completion, for working capital purposes, adding: "As a consequence of the transaction, the group's cash resources will be strengthened and simultaneously its regulatory capital requirement will be reduced." Despite a reduction in the ...