UK investment firm Hargreaves Lansdown agrees to $6.9 billion acquisition by CVC consortium.

• U.K. investment firm Hargreaves Landsdown is set to be taken over by private equity firms CVC Group, Nordic Capital, and Abu Dhabi's sovereign wealth fund.
• The company announced that Hargreaves Landsdown shareholders will receive 1,110 British pence and a 30 pence dividend per share under the deal.
• Hargreaves Landsdown needs significant financial backing for a comprehensive technological overhaul to enhance its offerings and fortify its position, as well as propel its future expansion and advancement.

A group of investors, including CVC Group, have agreed to a £5.4 billion ($6.9 billion) takeover offer from a British investment firm.

Nordic Capital, in addition to being a private equity investor, is also part of the consortium that manages Abu Dhabi's sovereign wealth fund.

Under the deal, Hargreaves Lansdown shareholders will receive 1,110 British pence and a dividend of 30 pence per share, the company announced.

Alison Platt, Hargreaves Landsdown Chair, stated that the offer presents an appealing chance for HL Shareholders.

The three investors, Pev Hooper from CVC Private Equity Group, Emil Anderson from Nordic Capital Advisors, and Hamad Shahwan Aldhaheri from the Abu Dhabi Investment Authority, stated that Hargreaves Landsdown needs significant investment in a technology-driven transformation to enhance its proposition and resilience, and to propel the next phase of HL's growth and development.

We are excited to collaborate with HL's management to expedite its transformation plan, which involves investing in technology infrastructure, digital channels, and service improvement, all while prioritizing client value, service, speed of innovation, and HL's distinct purpose.

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