Eureko, the pan-European insurance and asset management business, has acquired the remaining 10% shareholding of F&C Group for EURO62.4m (£37.6m) from Foreign & Colonial Investment Trust.
This follows Eureko’s acquisition of a 90% share holding in F&C from HypoVereinsbank in December last year. That transaction was completed on March 20, 2001.
Joao Talone, Eureko’s chief executive, said: “We have a stated intention to build the first truly pan-European asset management operation and last year’s acquisition of the majority of F&C was part of our plan to achieve that objective.“
Chairman of Foreign & Colonial Investment Trust, John Sclater, said that the trust has been progressively reducing its shareholding in F&C over the last eleven years.
By Janet Du Chenne
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
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