Salem Radio Network News Sunday, May 22, 2022

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M&G will take a minority stake in digital wealth manager Moneyfarm

LONDON (Reuters) – British money manager M&G said on Wednesday it has taken a minority stake in digital wealth manager Moneyfarm as part of a broader partnership.

M&A will use Moneyfarm’s technology, digital capabilities and investment guidance to back its own branded proposition.

The finance details of the deal were not disclosed, but a source with knowledge of the transaction told Reuters that the funding round values Moneyfarm at between 300 and 350 million pounds ($473 million).

($1 = 0.7407 pounds)

(Reporting by Andres Gonzalez, editing by John O’Donnell)

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