Aberdeen Investment Platform Sale

Aberdeen is in exclusive conversations to sell Finimize, the investment platform it bought four years ago. This move is part of the new managing director’s efforts to flush out another part of his predecessor’s legacy.

Background on Finimize

Finimize is an investment platform that offers annual subscription fees for investment tips and has more than a million subscribers to its newsletter. The platform was acquired by Aberdeen four years ago.

Sale Discussions

The exclusive conversations with the buyer, whose identity is unclear, have been ongoing for at least one month, according to insiders. Brave Bison, a marketing group listed in London, was one of the parties that had previously discussed a potential deal with Aberdeen.

Redesign of the Company

The sale of Finimize would be a further step by the managing director to redesign the company, which now has a market capitalization of 3.6 billion GBP. The managing director has also scrapped the company’s ABRDN branding, which was introduced in 2017 after the merger of Aberdeen Asset Management and Standard Life.

Investor Response

The investors were underwhelmed by the merger, which originally estimated the enlarged company at around 11 billion GBP. On Friday, Aberdeen’s shares closed at around 194.7 pence, having fallen by 30% last year.

Company Response

Aberdeen has refused to comment on the potential sale of Finimize. The company’s decision to sell the platform is part of its efforts to restructure and improve its performance.