Tavistock sells advice businesses to Saltus

Tavistock Partners and Tavistock Estate Planning Services will both be sold to Saltus as part of the transaction. On the deal's completion, £10.97m will be payable to Tavistock. The deal terms also include a performance-related deferred consideration of up to £15.75m. A further £11.03m relating to the discharge of an intragroup debt will be payable on completion. The consideration represents a 211% premium on Tavistock's market capitalisation, as per a company update shared today (1 October). The firms being sold to Saltus had a combined turnover of £5.8m and a profit before tax of...