Abrdn 'in discussions' to buy Interactive Investor

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Abrdn 'in discussions' to buy Interactive Investor

Abrdn has issued a statement confirming that it is in talks regarding the "potential acquisition" of retail investment platform Interactive Investor.

According to reports, if it were to go ahead, the deal would be worth £1.5bn.

Earlier in the year, the UK-based fund supermarket which is second only to Hargreaves Lansdown by size in the UK, was reported to be considering a London flotation at a valuation of up to £2bn.

There can be no certainty that these discussions will result in a transaction and a further announcement by the company will be made as and when appropriate."

In a statement today (8 November), the FTSE 100 asset manager said: "The company notes recent media speculation and confirms that it is currently in discussions with J.C. Flowers & Co regarding a potential acquisition of Interactive Investor. 

"There can be no certainty that these discussions will result in a transaction and a further announcement by the company will be made as and when appropriate."

In August this year, Abrdn acquired AI-driven wealth management solution business Exo Investing.

Interactive Investor has also made a number of acquisitions in recent years, including the £40m purchase of Alliance Trust Saving's adviser and D2C platform business in 2019.