"Pinsent Masons is advising global investment company, abrdn, on the agreement to sell its discretionary fund management (DFM) business, abrdn Capital, to LGT. The deal involves the transfer of approximately £6.1 billion in assets under management and approximately 140 employees. The agreed purchase price to be paid at completion is £140 million, subject to certain adjustments, principally reflecting activity in the period to completion. The sale is expected to complete in the second half of 2023, following satisfaction of certain conditions including receipt of customary regulatory approvals.

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