Nvesta set to fly Eurolife nest with FSA approval

Nvesta has taken a further step away from parent company Eurolife, with the latter to sell all its v...

Nvesta has taken a further step away from parent company Eurolife, with the latter to sell all its voting shares to a consortium, including third-party investors and senior staff. The intention is for Nvesta directors and senior management to control 50% of voting rights, with Eurolife retaining none. The change of control has been submitted to the FSA. A buyer for Eurolife's remaining investment in Nvesta will be sought in the future. Its disposal of Nvesta is one of the key underlying factors in the restructuring of its Secured Bond product, which went into default last year. When...