abrdn Diversified Income and Growth Plc Commences Secondary Sales Process
Why we think this is neutral
The RNS announcement does not contain any of the mandatory news types, such as contract news, order news, trading update, financing, funding, annual results, asset sale, flow testing, licence news, or delisting. Therefore, the sentiment is assessed as neutral.
Key Points
- The Board has decided not to proceed with a previously announced Third Party Offer as it does not consider the terms to be sufficiently attractive.
- The Secondary Sales Process is expected to involve sales to multiple interested parties given the diversified nature of the Company's remaining portfolio.
- The Company remains committed to returning the net proceeds of any realisations to shareholders progressively in an efficient and fair manner.
Summary
The asset management company is commencing a secondary sales process to market its remaining portfolio of private market assets.
abrdn Diversified Income and Growth plc (the "Company") has announced its intention to appoint Campbell Lutyens & Co. Ltd as an independent broker to market the Company's remaining portfolio of private market assets pursuant to a secondary sales process. The Board believes this offers the best opportunity to optimise the value of the Company's investments whilst progressively returning cash to shareholders.
GENERAL UPDATE