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AMP buys Towry Law

Australian insurance giant has announced its offer to buy national IFA Towry Law.

As exclusively revealed by Money Marketing on March 30, the £75.8m offer by the international financial services company AMP values each of Towry Law&#39s shares at 180 pence.

AMP says following the proposed acquisition Towry Law will continue to operate under its own brand and will remain operationally independent but will be strategically integrated into AMP.

Towry Law will be able to sell AMP&#39s products in the same way that it sells any other provider&#39s products subject to complying with regulatory requirements.

Speculation about the future of Towry Law was rife after the IFA suspended its shares on February 23 and the full scale of its pensions misselling emerged.

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