The Swiss Competition Commission has approved the £5.4bn takeover of Hargreaves Lansdown by a group of private equity companies.
The consortium member CVC Capital Partners announced the news on 9 October in a stock market statement
The private equity consortium is made up of CVC Advisers Limited, Nordic Capital, and Platinum Ivy, a subsidiary of Abu Dhabi Investment Authority, under the newly-formed bidding company Harp Bidco.
The deal is set to be implemented by a court-sanctioned scheme of arrangement.
The investment platform’s board has recommended that shareholders vote in favour of the acquisition, with the deal expected to close in the first quarter of 2025.
