StockMarketWire.com - Quilter said it had completed the sale of its so-called Single Strategy asset management business to its management team and funds managed by private equity firm TA Associates for £583m.

The final sale price included an upfront cash consideration of £576m and an additional £7m of deferred consideration, which would be fully received by 2021 at the latest.

The transaction was first announced on 19 December 2017.

Quilter also said it was making 'good progress' on separating its retained multi-asset business from the Single Strategy business sold as part of the transaction.

It still expected to incur aggregate costs of around £20m to establish the standalone multi-asset business.


At 1:16pm: [LON:QLT] Quilter Plc Ord Gbp0.07 share price was -2.98p at 145.02p



Story provided by StockMarketWire.com