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Link Group and LFSL have agreed to sell the Fund Solutions business (excluding Luxembourg and Swiss entities and Woodford-related liabilities) to Waystone Group with a £110-140 million consideration value.
Link Group has reached a conditional agreement with the FCA to settle its investigation into LFSL's role as the authorized corporate director of the LF Woodford Equity Income Fund.
The sale is targeted to complete by October 2023, and Link Group reaffirms its FY23 guidance of Operating EBIT to be up 10-12% on FY22.
Link Administration Holdings Limited (ASX: LNK) and long-standing client Rest have agreed in principle to extend their 30-year partnership by a further five years.
Upon finalisation of a binding agreement, Link Group’s Retirement and Superannuation Solutions (RSS) business will deliver core administration and experience-led customer engagement services to the fund.
Servicing the retail sector, Rest has become one of the largest industry superannuation funds by membership with more than 1.9 million members and approximately $70 billion.