Challenger Limited
(ASX:CGF) is set to broaden its reach in Europe through a new acquisition.
The company’s funds management arm Fidante Partners has agreed to purchase Dexion Capital Holdings.
Dexion is an alternative investments group with interests in three specialist fund managers and an investments distribution business based in London.
Challenger will make an agreed fixed payment $41 million while the final acquisition price is dependent on profitability over a period of up to six years.
Challenger believes the transaction represents a significant step-up in its European presence and is an important part of its international distribution and product expansion.
