Change of ownership for Alliance Trust Savings: Exciting new future ahead
Published: 22 October 2018
Alliance Trust PLC (“Alliance Trust”) today announces that it has agreed the sale of its subsidiary company Alliance Trust Savings (ATS) to Interactive Investor (“ii”), the UK’s second largest investment platform. This doesn’t affect our service to you, which continues as normal.
The deal is subject to regulatory approval and is expected to take several months to complete. When it does we believe it will mark the start of an exciting new future for our customers, our intermediary partners and our business.
Commenting on the sale, Lord Smith of Kelvin, Alliance Trust PLC’s chairman said:
“The Board is pleased to announce the sale of ATS to Interactive Investor. The two businesses are highly complementary and ATS customers, many of whom are Alliance Trust shareholders, will benefit from Interactive Investor’s similar low flat-fee structure, as well as its increased scale and focus. A key consideration for the Board was a commitment to maintaining ATS' presence in Scotland. We are therefore very pleased that ii plans to invest in ATS’ Dundee operating centre.”
There are no further details to share at this early stage and it is business as usual for Alliance Trust Savings. We will update here as the deal moves towards completion and, in the meantime, thank you as always for your ongoing and valued support.