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Cowdery’s Resolution attracts £500m for acquisitions

Entreprenuer Clive Cowdery has reportedly secured over £500m from investors for his new consolidation vehicle.

Cowdery, who sold Resolution to Hugh Osmond for £5bn earlier in the year, has named his new vehicle Resolution and has been meeting with investors since announcing that the vehicle planned to raise between £500m and £1bn last month, according to the Financial Times.

The new Resolution is expected to make its debut on the London stock exchange next Wednesday with shares being pitched at 100p each.

Cowdery is rumoured to be considering a bid for Clerical Medical. The life office’s future as part of HBOS has been subject to speculation as details of the Lloyds TSB takeover unfolds. This is due to an overlap between the insurer and Lloyds’ own Scottish Widows brand.

The acquisition vehicle is also understood to be looking at Friends Provident.

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