Litigation settlement drives AssetCo's M&A strategy

In October 2020, Grant Thornton informed AssetCo that it would not appeal to the Supreme Court in relation to being held liable for negligence for not exposing a fraud at AssetCo. This crystalised the £30.5 million award from the Court of Appeal ruling in January 2019. According to the company's six-month income statement to the end of March 2021, the company has already acquired a 29.8% stake in an investor group consisting of funds managed by Toscafund Asset Management, and five million shares in River and Mercantile Group. In May, AssetCo also announced it had made a conditional ac...