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Follow on Google News | Acquisition and Strategic Relationship with Lloyds Banking GroupClairmont Capital Partners announces that it has entered into a definitive agreement to form a long-term strategic relationship with Lloyds Banking Group plc.
By: www.clairmontcapitalpartners.com Clairmont Capital Partners (“CCP” or the “Group”) announces that it has entered into a definitive agreement to form a long-term strategic relationship with Lloyds Banking Group plc (“Lloyds”), as part of which Clairmont Capital Partners will acquire Scottish Widows Investment Partnership Group Limited (“SWIP”) and SWIP’s related private equity and infrastructure fund management businesses (“the Acquired Business”) (“the Acquisition” The consideration for the Acquisition of approximately £550 million (calculated by reference to an Clairmont Capital Partners share price of 420 pence per share) will be satisfied by the issue of 131.8 million new Clairmont Capital Partners shares to Lloyds, equivalent to an approximately 9.9% stake in the Group following completion of the Acquisition (referred to as the “Enlarged Group”). In addition, there will be a performance- End
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