Friends Provident has announced its decision to retain 100pc ownership of Pantheon Financial Services Ltd.
In its 'strategic review' in January this year, the group announced its intention to sell its interests in Pantheon, F&C and its European wealth management business Lombard. However, the company said it had not received offers sufficient to 'realise suitable value for shareholders' in the short term and has been forced to retain its ownership of the company. Pantheon had been expected to receive bids of around £30m amid speculation that private equity firms were interested in the company. Friends Provident's intention to sell its 52pc stake in F&C has also been hampered by the news la...
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