VIDEO: RL360's Kneeshaw reveals all as FPI deal concludes
Following on from this morning's news that RL360 parent IFGL has completed its purchase of Friends Provident International (FPI), we bring you this special video interview with RL360 and IFGL CEO David Kneeshaw
Speaking to International Investment's Gary Robinson, Kneeshaw, pictured above, reveals the backdrop to the deal being completed, how the acquisition will impact on staff at both RL360 and FPI and what it means for the future of both companies.
Click below to view.
As reported this morning IFGL - the company behind well-known international financial services product provider RL360 - completed its purchase of Friends Provident International bringing to close one of the industry's longest-running dramas.
The £259m ($326.2m) deal, has finally secured regulatory approval, and will bring the two international financial services giants together, opening up additional markets, particularly in the Middle East and Asia, for both outlets as a result.
The terms of the deal have been finalised with former majority shareholder Aviva retaining a reduced stake in FPI and IFGL taking over as the main stakeholder with 76% for the price of £259m, of which £209m is in cash and £50m in deferred cash considerations.
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