23rd Jan 2009 11:28
CLOSE BROTHERS GROUP REORGANISES ITS INTEREST IN CLOSE VENTURES LIMITED
Close Brothers Group plc ("Close Brothers" or "the Group") today announces that its Asset Management division ("Asset Management") has reorganised its interest in its VCT business, Close Ventures Limited ("Close Ventures").
As part of Asset Management's ongoing strategic review, the business of Close Ventures has been acquired by Albion Ventures LLP ("Albion"), which has been formed by the executive directors of Close Ventures. This will result in the deconsolidation of around £200 million of assets under management in aggregate. Although Albion will not form part of Close Brothers, the Group will retain an interest in the business.
In accordance with Regulatory requirements, the Close Ventures VCT Boards will today be making independent announcements to this effect.
Enquiries:
Sophie Ameln Gillingham - Investor Relations
Close Brothers Group plc 020 7655 3844
Justin Clark - Press enquiries
Close Brothers Group plc 020 7655 3784
Anthony Silverman Maitland 020 7379 5151
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