abrdn plc’s £1.49 Billion Acquisition of Interactive Investor

Macfarlanes advised private equity firm J.C. Flowers & Co on the deal. Taylor Wessing advised interactive investor, and Carey Olsen acted for the shareholders. Slaughter and May advised abrdn plc.

abrdn has agreed to acquire 100 per cent. of the ordinary share capital of the holding company of interactive investor Limited from its shareholders, including J.C. Flowers IV L.P. (a fund advised by J.C. Flowers & Co.) and key members of interactive investor’s management, for total consideration of £1.49 billion.

As part of the Acquisition, Richard Wilson, CEO of interactive investor will join abrdn and continue to lead interactive investor, which will operate as a standalone business within abrdn’s Personal vector.

The transaction is subject to the approval of abrdn’s shareholders and regulatory approval and is expected to complete in the second quarter of 2022. Interactive Investor will continue to operate independently within abrdn. 

Interactive Investor is the UK’s second largest DIY investment platform, with more than 400,000 customers and assets under administration of approaching £55bn.

abrdn plc , formerly Standard Life Aberdeen plc, is a United Kingdom-based global investment company headquartered in Edinburgh. 

JC Flowers  & Co. is a private investment firm dedicated to investing globally in the financial services industry. 

The Macfarlanes team was led by corporate and M&A partner Justin Hope (Picture) alongside solicitor Annie McElwain. 

Taylor Wessing’s team included Russell Holden, Partner, Charlotte Whalley, Senior associate, Suzy Davis, Senior Associate, William Zhang, Associate, Shaun Brewster, Associate, Nick Vollers, Trainee, Francesca Moore, Paralegal, Skigh Milne, Paralegal, Paul Callaghan, Partner, Mark Smith, Partner, Colin Godfrey, Senior counsel, Vikki Wiberg, Senior counsel, Joe Aiston, Senior associate, Afshan Mallik, Senior associate, Ruth Moffett, Associate, Sian Skelton, Partner, Kelly Burke, Senior associate, Mary Rendle, Associate, Ann Casey, Partner, Anna Humphrey, Partner, Richard Carson, Consultant, James Stewart, Senior Counsel, Charlotte Hill, Partner, Paolo Palmigiano, Partner, Louisa Penny, Senior counsel, Arnav Gupta, Associate, Katie Fry-Paul, Associate, Olivia Turner, Trainee and Tim Strong, Partner.

Slaughter and May supported abrdn’s internal legal team, which is led by Rushad Abadan (Group General Counsel) and included Fiona McGowan (Co-Head of Legal abrdn and Head of Legal UK) and Alison Rennie (Head of Platforms and Wealth, abrdn Legal).

Slaughter and May’s team included Nick Pacheco, Partner, Roland Turnill, Partner, Paul Dickson, Partner, Dennis Mok, Associate, Matthew Calvert, Associate, Thomas Whitney, Associate, Adrian Gibbs, Associate, Monique Dhiri, Associate, Daniel Cornell, Associate, Andrew McCue, Trainee, Harry Williams, Trainee, Emma Batchelor, Trainee, Nick Bonsall, Partner, Tom Hilton-Stevens, Associate, Ben Goldstein, Associate, Adriana Bica, Trainee, Mo Suksaisakulsakdi, Trainee, Gareth Miles, Partner, Ed Milliner, Senior Counsel, Caroline Phillips, Partner, Charlie McGarel-Groves, Partner, Kieran Turton, Associate, Sandeep Maudgil, Partner, Ian Brown, Senior Counsel, Ellie Wilson, Associate, Chloe Sanderson, Associate, David Ives, Partner, Edmund Berney, Associate, Anna Poulter-Jones, Associate, Anna Lyle-Smythe, Partner, Murray Reeve, Associate, Rebecca Cousin, Partner and Richard Dodding, Associate.

The Carey Olsen team advising on the Guernsey legal and regulatory aspects of the sale comprised partner Tony Lane and senior associate Arya Hashemi.

Involved fees earner: Arya Hashemi – Carey Olsen; Tony Lane – Carey Olsen; Justin Hope – Macfarlanes LLP; Annie McElwain – Macfarlanes LLP; Edmund Berney – Slaughter and May; Nick Bonsall – Slaughter and May; Ian Brown – Slaughter and May; Matthew Calvert – Slaughter and May; Rebecca Cousin – Slaughter and May; Monique Dhiri – Slaughter and May; Paul Dickson – Slaughter and May; Richard Dodding – Slaughter and May; Adrian Gibbs – Slaughter and May; Ben Goldstei – Slaughter and May; Tom Hilton-Stevens – Slaughter and May; David Ives – Slaughter and May; Anna Lyle-Smythe – Slaughter and May; Sandeep Maudgil – Slaughter and May; Charlie McGarel-Groves – Slaughter and May; Gareth Miles – Slaughter and May; Ed Milliner – Slaughter and May; Dennis Mok – Slaughter and May; Nick Pacheco – Slaughter and May; Caroline Phillips – Slaughter and May; Anna Poulter-Jones – Slaughter and May; Murray Reeve – Slaughter and May; Chloe Sanderson – Slaughter and May; Roland Turnill – Slaughter and May; Kieran Turton – Slaughter and May; Thomas Whitney – Slaughter and May; Ellie Wilson – Slaughter and May; Joe Aiston – Taylor Wessing; Kelly Burke – Taylor Wessing; Paul Callaghan – Taylor Wessing; Ann Casey – Taylor Wessing; Suzy Davis – Taylor Wessing; Katie Fry-Paul – Taylor Wessing; Colin Godfrey – Taylor Wessing; Arnav Gupta – Taylor Wessing; Charlotte Hill – Taylor Wessing; Russell Holden – Taylor Wessing; Anna Humphrey – Taylor Wessing; Paolo Palmigiano – Taylor Wessing; Louisa Penny – Taylor Wessing; Mary Rendle – Taylor Wessing; Sian Skelton – Taylor Wessing; Mark Smith – Taylor Wessing; James Stewart – Taylor Wessing; Tim Strong – Taylor Wessing; Charlotte Whalley – Taylor Wessing; Vikki Wiberg – Taylor Wessing;

Law Firms: Carey Olsen; Macfarlanes LLP; Slaughter and May; Taylor Wessing;

Clients: abrdn Group (former Standard Life Aberdeen plc); interactive investor; J.C. Flowers & Co.; JC Flowers IV L.P;

Giulia Di Palma

Author: Giulia Di Palma