ii confirms abrdn acquisition in £1.5bn deal

According to a statement from ii, the transaction will see abrdn acquire 100% of the ordinary share capital of ii, which includes that of majority stakeholder, JC Flowers IC LP. ii will operate as a standalone business and independent brand within abrdn, with Richard Wilson continuing to lead ii through the next phase of its development, under abrdn's ownership. The transaction is subject to receipt of customary regulatory and anti-trust approvals, as well as abrdn shareholder approval. It is expected to be completed in the second quarter of 2022. Stephen Bird, CEO of abrdn (pictur...