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Britannic gives up on finding a buyer

Britannic Group has accepted defeat in finding a buyer for the business as a whole blaming current market conditions.

The announcement opens the door to individual buyers being found for Britannic Asset Management, Britannic Retirement Solutions, Britannic Money and Britannic Assurance.

Britannic Group chairman Harold Cottam says: “As part of our strategic work we have explored a number of opportunities over the last four months and have concluded that in current market circumstances it is unlikely that full value can be achieved through an offer for the group as a whole. Consequently, discussions with potential parties have been discontinued.”


Floated shares in Misys network business could go to existing shareholders

Misys could offload its interest in its IFA networks entirely in a flotation bound to cause a scramble for stakes by product providers.But it has not yet decided whether it will keep any shares in the newly floated company or how the flotation will take place.Unlike an open market offering, a demerger would allow Misys […]

LSE shuns equities for its own pension scheme

The London Stock Exchange is itself avoiding the equity markets by transferring its own pension scheme is to move out of equities in favour of fixed interest. Speaking at its AGM last friday LSE chairman Don Cruickshank accepted the decision was ironic. The closed fund will gradually sell the remaining 25 per cent in equities. […]

Wesleyan Assurance – Guaranteed Growth Bond

Wednesday, 17 July 2002 Type: Guaranteed growth bond Minimum-maximum investment: £5,000-£500,000 Term: Five years Charges: Implicit Return: Capital returned in full at end of term along with any bonuses Guarantee: 120% of amount invested returned at end of term Commission: None Tel: 0800 0680680

Jupiter and Duffield reach deal on £90m IT

A last-ditch attempt by Jupiter and John Duffield to avert a court battle has succeeded, with both parties agreeing a settlement over the reconstruction of New Star Investment Trust.The agreement splits NSIT into two funds and allows shareholders to choose between staying with NSIT or switching to Jupiter&#39s new Neptune unit trust. The deal was […]

Rise of the machines

Head of Sustainable Investing at Royal London Asset Management, Mike Fox, looks at the case for including artificial intelligence within a sustainable investment strategy. Read the article in full here The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get […]


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