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Insider UK
Insider UK
Business
Peter A Walker

Edinburgh-based financial advisory platform confirms multiple takeover bids

Edinburgh-based Nucleus Financial Group has confirmed that it received several approaches to buy the company.

The financial advice platform provider revealed potential bids from rival Integrafin Holdings, and private equity firm Epiris in conjunction with its associate James Hay Partnership.

Integrafin and Epiris are both interested in acquiring the entire share capital of Nucleus.

Nucleus also stated that it was in preliminary talks with private equity firm Aquiline Capital Partners and wealth tech business Allfunds UK.

The company’s majority shareholder, Sanlam UK, stated that it is supportive of it engaging in potential offer discussions.

"There can be no certainty that any offer for Nucleus will be made, nor as to the terms on which any offer might be made," a statement added.

The AIM-listed firm’s shares were up almost 40% at the end of trading yesterday.

Its last trading update showed assets under administration to £15.8 billion as stock markets worldwide recovered from the initial pandemic shock.

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