J.C. Flowers to fund Interactive Investor's buy of TD European unit
U.K. online investment service Interactive Investor Plc has agreed to acquire the European direct investing business of Canada's TD Bank Group. No financial terms were disclosed for the deal, which is expected to close in the first quarter of 2017. The acquisition will create the United Kingdom's second largest online stockbroker with assets of £18 billion, London-based Interactive said. J.C. Flowers & Co, a U.S. private equity firm focused on financial services, will provide funding for the transaction and will be the majority owner of the combined company.
12 October 2016•6 mins read
