CVC Advisers Limited has provided an important update regarding the potential acquisition of a well-known investment service provider by Harp Bidco Limited, a newly established company backed by investment funds from CVC Private Equity, Nordic Capital XI Delta, and Platinum Ivy 2018 RSC Limited.
On February 27, 2025, the UK Financial Conduct Authority (FCA) issued a written notice approving the acquisition as it pertains to the management of a UK authorized entity involved in the transaction. As a result, all regulatory and antitrust-related conditions necessary for this acquisition have been met.
However, completing the acquisition is contingent upon several elements, including the Court’s approval of the involved scheme during a forthcoming hearing, the submission of the Court Order to the Registrar of Companies, and the fulfillment or waiver of any conditions detailed in a documented scheme.
The upcoming Court Hearing is scheduled for March 18, 2025, which will finalize the agreement. Based on the projected timeline, it is anticipated that the acquisition will take effect on March 24, 2025. Accordingly, the last day for trading and registering transfers of shares is set for March 21, 2025. Trading of these shares will be suspended on the morning of March 24.
In conjunction with these developments, it is expected that the official listing of the shares will be canceled and removed from trading on the main market of the London Stock Exchange effective from 8:00 a.m. on March 25, 2025.