AFH Financial Group has received a £224.5 million cash offer to take over the business from US-based private equity company Cortina Bidco.
In a trading update released this morning, AFH said that Cortina Bidco, a newly-incorporated company indirectly controlled by funds managed by Flexpoint Ford, has offered £224.5 million for its share capital. The AFH independent directors consider the terms of the acquisition to be "fair and reasonable" and recommend the shareholders vote for the deal. The deal is subject to regulatory approval from the Financial Conduct Authority (FCA). AFH said the acquisition would "assure the successful delivery of the growth strategy and unlock the full potential of the group over the long-term"....
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