![]() "Over the past three years, our shared values and mutually beneficial areas of expertise have given us the opportunity to engage with BTPS and enjoy an open dialogue with them as a key client and owner. Christopher Donahue, president and chief executive officer of Federated Hermes, said: An employee benefit trust continues to hold approximately 10% of HFML for the benefit of certain members of HFML's management and key employees. Federated Hermes will fund the transaction through a combination of cash and borrowings from its existing credit line. Consequently, Federated Hermes will pay £116.5 million, (approximately $161.5 million) to BTPS for its remaining shares in HFML. BTPS and Federated Hermes have agreed to an independent fair valuation of HFML of £394.9 million, (approximately $547.4 million). The transaction provided a call option for Federated Hermes to purchase the rest of HFML and gave BTPS a put option to sell its residual shareholding in HFML, in both cases between three-to-six years after the original agreement.īoth parties have now agreed to close a transaction for BTPS's remaining 29.5% interest in HFML on 31 August, 2021. 18, 2021 /PRNewswire/ - Federated Hermes, Inc., (NYSE: FHI) a global leader in active, responsible investing, has today agreed to the acquisition of the remaining 29.5% interest in Hermes Fund Managers Limited (HFML) held by BT Pension Scheme (BTPS).įederated Hermes acquired a 60% majority interest in HFML from BTPS in 2018.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |