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Abrdn Selling JV To Virgin Money; Little Credit Impact Near-Term

FINANCIALS

*VIRGIN MONEY TO TAKE FULL OWNERSHIP OF ABRDN INVESTMENTS JV


  • ABRDN equity has been struggling and FT carrying story about key shareholder (Harris) selling out. CEO Stephen Bird is streamlining and restructuring the business, ideally growing the contribution from wealth.
  • Platform was only launched in Apr-20 after the JV was established in Aug-19; likely little economic impact in near term.

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