Aberdeen Group is believed to be closing in on a deal to sell Finimize, the investment insights platform it bought just four years ago.
The FTSE-250 asset management group is now in exclusive talks with one party, according to Sky News.
Finimize charges an annual subscription fee for investment tips, and had more than one million subscribers to its newsletter at the time of Aberdeen’s £87m purchase of the business.
Selling it would fit chief executive Jason Windsor’s plan to reshape Aberdeen after he replaced Steven Bird last year.
Earlier this month Aberdeen sold its £3.6 billion Aberdeen Financial Planning subsidiary to Ascot Lloyd for an undisclosed sum. Formerly 1825, it was set up as part of Standard Life in 2015.
In July the group posted a broadly flat adjusted operating profit of £125 million for the half year down just 2% from £128m with its DIY investor platform a stand-out performer.
Aberdeen shares have steadily advanced under Windsor’s watch, up 30% over the past year, though the company is valued at just £3.6 billion compared with £11bn at the time of the group’s creation in 2017 from the merger of Standard Life and Aberdeen Asset Management.
#Aberdeen #Group #close #selling #Finimize #platform #Daily #Business