AssetCo has proposed an acquisition of Edinburgh-based firm Saracen Fund Managers for £2.8m.
The purchase of the firm, which would mark AssetCo's first 100% acquisition, comes three months after it took a 5.9% strategic stake in River & Mercantile. It has been targeted by the firm because it believes there are "significant opportunities to enhance the distribution and appeal of Saracen's existing funds" and to "widen the funds offered by Saracen", according to an announcement on the London Stock Exchange this morning (14 May). It added that Saracen will provide the opportunity for AssetCo to purchase an FCA-regulated entity and the associated authorisations. Saracen, which cu...
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