Sanlam UK to acquire Tavistock Investment

The AIM listed investment management business, Tavistock Investment, said on Thursday that the Financial Conduct Authority granted "change of control approval" status in connection with Sanlam UK's acquisition of the company.

Following the announcement of the purchase on 10 August, conditional on receipt of approval, Tavistock said the decision implied that the transaction had now completed, enabling the deal to go through for a total cash consideration of £1m payable in full.

Sanlam is a UK wealth management business offering wealth planning and investment management services to private clients.