The regulator has approved the acquisition of AFH Financial Group by US-based private equity company Cortina Bidco in a deal worth £231.6m.
In a note to the stock exchange, AFH said that Cortina Bidco, a newly incorporated company indirectly controlled by funds managed by Flexpoint Ford, had gained Financial Conduct Authority approval for the transaction. It said the regulator gave the recommended cash acquisition the green light yesterday (18 May) and would go ahead through a court-sanctioned "scheme of arrangement". The statement added: "The acquisition and scheme, which were approved by AFH Shareholders on 26 March 2021, remain subject to the sanction of the High Court. It is expected that completion of the acquisitio...
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