Utmost Group lines up debt for £483m Quilter acquisition

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By Mike Turner
01 Apr 2021

Utmost Group, a UK life assurance group, has made a roughly £483m cash offer to buy high net worth investment platform provider Quilter International, with four banks lined up to provide debt for the deal.

The acquisition is being financed with £275m in debt, and the rest equity, according to an Utmost spokesperson. ING, ABN Amro, RBS and Lloyds are providing the debt portion.

The £483m price tag is made up of a £460m base price and a 5% interest charge. Quilter is being ...

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