Quilter PLC Announces Proposed Sale Of Quilter International

Quilter PLC announced the proposed sale of Quilter International to Utmost. Total consideration is anticipated to be approximately 483 million pounds. The Group expects net cash proceeds of approximately 450 million pounds from the sale after allowing for transaction costs. The Group said the sale will simplify Quilter and focus the Group on its higher growth UK wealth management business.

Quilter said it expects to deliver a standalone operating margin of at least 25% in 2023 and at least 30% by 2025, after absorbing stranded costs.

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