Reorganisation of Interest in

RNS Number : 1563M

Close Brothers Group PLC

23 January 2009

 



CLOSE BROTHERS GROUP REORGANISES ITS INTEREST IN 
CLOSE VENTURES LIMITED

Close Brothers Group plc ("Close Brothers" or "the Group") today announces that its Asset Management division ("Asset Management") has reorganised its interest in its VCT business, Close Ventures Limited ("Close Ventures").

As part of Asset Management's ongoing strategic review, the business of Close Ventures has been acquired by Albion Ventures LLP ("Albion"), which has been formed by the executive directors of Close Ventures.  This will result in the deconsolidation of around £200 million of assets under management in aggregate.  Although Albion will not form part of Close Brothers, the Group will retain an interest in the business. 

In accordance with Regulatory requirements, the Close Ventures VCT Boards will today be making independent announcements to this effect.

Enquiries:

Sophie Ameln Gillingham       - Investor Relations                        

                                               Close Brothers Group plc               020 7655 3844

Justin Clark                            - Press enquiries                            

                                               Close Brothers Group plc               020 7655 3784

Anthony Silverman                 Maitland                                           020 7379 5151

 

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