An arm of Santander, the Spanish banking large, is in talks to swoop on the £14bn personal fairness unit of abrdn, the British fund supervisor.
Sky News has learnt that Santander Asset Management is considered one of a small variety of events vying to purchase the enterprise from abrdn.
Sources stated a deal was anticipated to be struck between abrdn and a purchaser within the subsequent couple of months that might worth the division at roughly £250m.
At least one different occasion has been in discussions in latest weeks, though a supply near Fidelity International denied a suggestion that it was contemplating a deal.
The division being bought by abrdn manages investments in personal fairness funds and is a legacy of Standard Life Investments, whose guardian firm merged with Aberdeen Asset Management in 2017.
Under present chief govt Stephen Bird, abrdn has tried to reshape itself, shedding non-core property and spending £1.5bn on the acquisition of Interactive Investor, the retail platform.
Mr Bird will later this month unveil abrdn’s full-year outcomes, with City analysts pencilling in a consensus pre-tax revenue forecast of £228m.
Assets beneath administration are anticipated to have fallen to £502bn.
On Friday, shares in abrdn had been buying and selling at about 213p, giving the corporate a market capitalisation of £4.3bn.
Abrdn and Santander declined to remark.
Source: information.sky.com”