Headline: LGT completes takeover of abrdn DFM business
Acquiror: LGT Wealth Management
Target: abrdn’s Fund Business
Target Services: Fund Management Business
Valuation: £140 m
Target Industry: Finance
Rationale: LGT has successfully acquired abrdn’s DFM business in the UK and Jersey, expanding its assets under management and UK footprint.
Summary: LGT Wealth Management has finalized the acquisition of abrdn’s Discretionary Fund Management business, growing its assets under management by £6 billion to more than £28 billion.