21 December 2021

Carey Olsen advises on interactive investor's £1.5bn sale to abrdn

Lawyers from Carey Olsen's Guernsey corporate team have advised the shareholders of interactive investor, the UK's leading subscription-based investment platform, on its proposed £1.49 billion sale to abrdn, the global investment manager.

The acquisition is part of abrdn's ongoing growth strategy and its commitment to the personal wealth and direct investing market.

The transaction will see abrdn acquire 100% of the ordinary share capital of the holding company of interactive investor from its shareholders, including majority shareholder JC Flowers IV L.P., a fund advised by private equity group JC Flowers. As part of the takeover, interactive investor will continue to operate as a standalone business and an independent brand.

Working alongside onshore counsel Taylor Wessing, the Carey Olsen team advising on the Guernsey legal and regulatory aspects of the sale comprised partner Tony Lane and senior associate Arya Hashemi.

Tony said: "Having been involved with the interactive investor structure for a number of years, Carey Olsen is pleased to have advised the shareholders on such a notable transaction within the UK's personal wealth and direct investing market. It also reinforces Carey Olsen's strong reputation in advising on mergers and acquisitions of this size and complexity."

Founded in 1995, interactive investor has been helping investors for over 25 years by providing a secure home for their pensions, ISAs and investments. The firm has assets of £55 billion under administration and more than 400,000 customers. 

Completion of the acquisition, which is subject to the usual regulatory approvals and abrdn shareholder approval, is expected to complete in the second quarter of 2022.

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