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Close Brothers to Sell Wealth-Management Unit to Oaktree
Close Brothers to sell asset management arm as motor finance bill looms
Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
Close Brothers Sells Wealth Unit to Oaktree to Bolster Capital
Close Brothers Group Plc has agreed to sell its wealth unit to Oaktree Capital Management for an equity value of as much as £200 million ($265 million) as it looks to strengthen its balance sheet amid a regulatory review of its motor finance practices.
Close Brothers sells asset management arm for £200m amid car finance probe
The bank said it had sold Close Brothers Asset Management to Oaktree Capital Management in a deal which could rise to £200m
Close Brothers AM prepares to shift into its own wealth business
"Close Brothers AM prepares to shift into its own wealth business" was originally created and published by Private Banker International, a GlobalData owned brand.
Close Brothers to sell asset management arm to Oaktree
Close Brothers will sell its asset management arm to Oaktree in a deal worth up to £200mn. The sale of Close Brothers Asset Management is expected to strengthen the group's capital base. It intends to keep all upfront cash proceeds from the sale, worth around £172mn.
Close Brothers divests asset management division to Oaktree in strategic £200m deal
The sale of Close Brothers Asset Management (CBAM) to funds managed by Oaktree Capital Management is expected to be completed in early 2025 following regulatory approvals.
Close Brothers sells asset-management business
Close Brothers has sold the asset-management arm of its business to Oaktree. Oaktree will support Close Brothers Asset Management (CBAM)'s growth ambitions by enabling the company to accelerate its investment programme.
Close Brothers to sell asset management branch to Oaktree
Close Brothers has agreed to sell its asset management branch to Oaktree for £200m, with the deal expected to complete early next year. The transaction will amount to £172m, with the additional £28m coming from contingent deferred consideration in the form of preference shares.
UK's Close Bros sells wealth business to Oaktree in $265 million deal
Close Brothers Group has agreed to sell its wealth management unit, Close Brothers Asset Management (CBAM), to private equity firm Oaktree Capital Management for up to 200 million pounds ($265 million).
Close Brothers flags cost of motor finance probe uncertainty as it sells wealth manager for £200m
The Financial Conduct Authority launched a probe into the historical sale of loans by UK motor finance companies earlier this year following a surge of complaints from consumers.
4d
on MSN
Close Brothers chief executive takes medical leave of absence from banking group
Close Brothers chief executive takes medical leave of absence from banking group - The firm did not indicate when CEO Adrian ...
11h
Close Brothers Group PLC (CBGPY) (Q4 2024) Earnings Call Transcript Highlights: Strong ...
Close Brothers Group PLC (CBGPY) reports significant growth in key financial metrics and strategic moves to strengthen its ...
Reuters
1d
UK's Close Bros sells wealth business to Oaktree in $265 mln deal
LONDON, Sept 19 (Reuters) -
Close
Brothers
Group (CBRO.L), opens new tab has agreed to sell its wealth management unit,
Close
Brothers
Asset Management (CBAM), to private equity firm Oaktree ...
1h
The True Story of Netflix’s
Lyle and Erik Menendez murdered their parents in 1989. Here's everything to know about the crime at the center of Netflix's ...
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