CVC Advisers Limited today provided an update on the proposed acquisition of Hargreaves Lansdown by Harp Bidco Limited, a newly formed company indirectly owned by CVC Private Equity Funds, Nordic Capital XI Delta, SCSp and Platinum Ivy B 2018 RSC Limited.

On 27 February 2025, the UK Financial Conduct Authority (FCA) gave written notice approving each acquisition of control in respect of a UK authorised person contemplated by the Acquisition. Accordingly, all of the conditions to the Acquisition relating to antitrust and regulatory approvals have now been satisfied.

Completion of the Acquisition remains subject to the Court sanctioning the Scheme at the Court Hearing, delivery of a copy of the Court Order to the Registrar of Companies and the satisfaction (or, where applicable, waiver) of the remaining Conditions set out in Part III of the Scheme Document.

The Court Hearing to sanction the Scheme is scheduled to be held on 18 March 2025.

On the basis of the current expected timetable, the Scheme is expected to become effective on 24 March 2025. The last day of dealings in, and for registration of transfers of, HL Shares is therefore expected to be 21 March 2025, with all dealings in HL Shares being suspended at 7.30 a.m. on 24 March 2025.

It is also expected that the listing of HL Shares on the Official List and admission to trading of HL Shares on the main market of the London Stock Exchange will each be cancelled with effect from 8.00 a.m. on 25 March 2025.