Waystone eyes Link Funds acquisition
Waystone Group has confirmed exclusive negotiations with Link Group on acquiring the company’s fund admins business, Link Funds Solutions (LFS).
According to Waystone, the sale would exclude any Woodford-related liabilities and is subject to “successful finalisation of due diligence and detailed legal agreements”, as well as board and other approvals.
The FCA has proposed enforcement action against Link Funds in relation to the firm servicing the suspended Woodford Equity Income Fund (WEIF), alleging Link Funds failed to adequately manage WEIF’s liquidity.
As per Waystone, the company and LFS are in confidential discussions with the regulator to settle its investigations into the latter.
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