Quilter sells international business for £483m

The firm said the sale would simplify Quilter and focus its attention on its higher growth UK wealth management business. The deal is due to complete towards the end of the year if shareholders approve the move. The total £483m is inclusive of a 5% interest charge on the base consideration of £460m from 1 January 2021. Quilter International will become a part of Utmost International, an international life assurance business operated by Utmost Group. Quilter chief executive Paul Feeney said: "[The sale] allows us to focus on accelerating our growth and efficiency plans as well as fu...