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(Alliance News) - Schroders PLC is in "advanced talks" to purchase a 75% stake in renewable energy investment manager Greencoat Capital, Sky News reported on Wednesday.
Greencoat Capital which around GBP6 billion in assets under management, and runs several funds including London-listed Greencoat UK Wind PLC and Greencoat Renewables PLC. The group also manages funds which are focused on solar assets, bioenergy and heat.
According to sources, Sky News reported that a deal could be announced "within a matter of days", with a price coming up to GBP360 million. The deal is expected to include an option for the FTSE 100 fund manager to acquire the remainder of Greencoat Capital.
https://news.sky.com/story/schroders-swoops-on-renewables-fund-manager-greencoat-in-360m-deal-12496627
Shares in Schroders closed 0.7% lower at 3,390.00 pence on Wednesday in London. Greencoat UK Wind shares ended up 0.6% at 136.20p, while Greencoat Renewables shares closed down 0.9% at EUR1.09.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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