FNZ, technology provider to a number of adviser platforms, is drawing up plans for a sale that could be worth up to £2bn, according to reports.
According to Sky News, the business is in the process of appointing advisers for a sale of a majority stake in the company, which provides technology for Standard Life, Aviva, Old Mutual Wealth and Embark adviser platforms. It also provides technology to other financial groups, such as Barclays and HSBC. "City sources" said FNZ could be valued anywhere between £1bn and £2bn and the sale process was expected to kick off before the end of the year. Why the sudden craze for platform floats? General Atlantic and HIG Europe both currently own one-third of the company and are expected...
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