Tavistock has acquired asset management business Alpha Beta Partners (ABP) and has confirmed that completion conditions for the sale of its advice businesses to Saltus have been satisfied.
ABP is based in London and Bath with approaching £3bn of assets under management. Tavistock said ABP's focus on retail investors served by regulated advice businesses which is complementary to its business positioning. The total consideration to be paid for ABP will be directly linked to its financial performance over the next five years, Tavistock confirmed in an update posted today (22 November). On the deal's completion, £6m will be payable to ABP with the maximum potential consideration capped at £18m, payable in cash. The deal remains subject to regulatory approval. Tavis...
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