The proposed acquisition of Hargreaves Lansdown (HL) by Harp Bidco Limited. It is a newly formed company indirectly owned by CVC Private Equity Funds, Nordic Capital XI Delta, SCSp, and Platinum Ivy B 2018 RSC Limited. So it has secured Court approval, marking a significant milestone in the process.

UK Financial Authority Approves Hargreaves Lansdown Acquisition

In an official announcement today, both HL and Bidco confirmed that the Court sanctioned the Scheme to implement the acquisition.They are going to deliver the Court Order, essential for completing the transaction, to the Registrar of Companies on 24 March 2025, making the Scheme effective.

As part of the acquisition process, they have set the Scheme Record Time for 6.00 p.m. on 21 March 2025. At this time, they will disable CREST for HL shares.In addition, they have submitted applications to suspend and subsequently cancel trading of HL shares on the London Stock Exchange’s main market for listed securities. They will remove the listing of HL shares from the Official List.

The suspension of HL Shares trading on the London Stock Exchange is going to take effect from 7.30 a.m. on 24 March 2025, with the last day for dealings and the registration of transfers of HL Shares being 21 March 2025. After completing the acquisition on 24 March 2025, HL will delist its shares from the Official List and cease trading on the Main Market by 8.00 a.m. on 25 March 2025.

Additionally, the UK Financial Conduct Authority (FCA) approved the acquisition on 28 February 2025, clearing a final regulatory hurdle. This approval paves the way for the full realization of the acquisition. This will also reshape the landscape for Hargreaves Lansdown moving forward.

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