Update: Aegon completes £140m Cofunds purchase to become industry's biggest platform

Deal first announced in August 2016

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Update: Aegon completes £140m Cofunds purchase to become industry's biggest platform

Aegon has today announced the completion its acquisition of adviser platform Cofunds from rival provider Legal & General (L&G) for £140m.

The deal was completed this morning (3 January 2017) following the initial announcement back in August last year.  In a statement this morning, L&G said Cofunds required a significant technological upgrade and that its long-term ownership and growth potential were best achieved under the ownership of a specialist platform provider. Cofunds will continue to be led by David Hobbs and be run from its headquarters in Witham, Essex, with operational staff also located in Hove, East Sussex. Aegon UK chief executive Adrian Grace said: "Today marks the start of a new era for both Aegon and...

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