Quilter confirms sale of Buxton's single-strategy OMGI business for £583m

In a stock exchange announcement today, the firm said the transaction, which was previously announced in December 2017, comprised upfront cash consideration of £576m plus £7m in deferred consideration which will be received by 2021.  The board of Quilter said it would consider a special distribution to shareholders from the surplus sale proceeds once costs and the repayment of a £300m senior unsecured loan had been taken into account.  Quilter listed as a standalone company on 25 June, separating from former parent Old Mutual plc. This included the former multi-asset division of OMGI,...