Ivory and Sime
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Ivory and Sime was established in the late 1800s with the formation of the British Assets Trust.
Friends Provident, the mutual life assurer, performed a reverse takeover of Ivory and Sime, the fund manager, in a £132m deal that resulted in the creation of a group called Friends Ivory & Sime. The deal was announced on 8 November 1997.[1]
In July 2001, Aberdeen Asset Management bought out the company from the Friends Ivory & Sime in a cash deal worth £6.5m plus the value of the net assets at completion, which at the time was expected to amount to an additional £2.1m.[2]
References[]
- ^ Verity, Andrew (8 November 1997). "Friends Provident merges fund management arm with Ivory & Sime in pounds 132m reverse takeover". The Independent.
- ^ Wheelan, Hugh (17 July 2001). "Aberdeen buys Ivory & Sime Asset Management". IPE. Retrieved 27 August 2020.
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