Towergate employees to recieve £100m windfall
Towergate has agreed for two American hedge funds to take a 10% investment in the company, worth £10...
Towergate has agreed for two American hedge funds to take a 10% investment in the company, worth £100m, to be shared among management and staff shareholders. Towergate, which is 2%-owned by staff, would have completed the deal sooner pending Financial Services Authority approval, which was expected to be granted by November 30. Executive chairman Peter Cullum told Professional Broking: "This 10% investment allows us to take some money off the table and the £100m will be shared among the
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