Slaughter and May advised Legal & General on the acquisition of the remaining shares in Cofunds Holdings Limited not already owned by it in a transaction that values Cofunds at £175 million. Cofunds is the UK’s largest independent platform for financial services and has over £50 billion of assets under administration and a 22% share of the UK investment platform market. Legal & General already holds 25% of the share capital of Cofunds and has been a shareholder since 2005. The transaction, which is subject to regulatory approval, is expected to complete in the 2nd quarter of 2013.

Contacts

Corporate and Commercial: Hywel Davies (partner), Robert Chaplin (partner), Alex Dustan (associate); Pensions and Employment: Jonathan Fenn (partner), Harriett Clover (associate); Financial Regulation: Jan Putnis (partner), Michael Raymond (associate)

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