IntegraFin Holdings will not make an offer for Nucleus Financial Group, it confirmed in a statement on the London Stock Exchange on 4 January.
Back in November, Nucleus confirmed it had received proposals from Transact’s parent company IntegraFin Holdings and James Hay’s private equity owner Epiris, as well as held preliminary talks with Allfunds and Aquiline Capital Partners
James Hay is reportedly the last firm left in the mix, after Allfunds and Aquiline dropped out of the race as well.
Nucleus’s majority shareholder, Sanlam UK, was “understood” to be supportive of the discussions.
Sanlam UK owns 52% of the platform.
The wrap platform said in November that further announcements will be made in due course, as and when appropriate.
