18th Aug 2021 08:26
(Alliance News) - M&G PLC on Wednesday said it has reached an agreement to buy West Yorkshire-based Sandringham Financial Partners.
Sandringham, a "fast-growing provider of independent financial advice", brings more than GBP2.5 billion assets under advice with it.
The London-based savings and investments firm said the deal will strengthen its M&G Wealth unit.
M&G Chief Executive John Foley said: "Sandringham will accelerate our ability to grow and build our advisory capability across the UK and to provide a wider range of investment solutions to more clients."
The deal is subject to regulatory approval. M&G did not disclose a fee for the acquisition.
M&G shares were 0.4% lower at 219.30 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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