The £39m bid for SIPP provider STM Group has been extended for a fourth time as chief executive Alan Kentish strives to buy a chunk of the company.
SIPP and pensions provider STM Group has agreed in principle to a £41m takeover bid from Guernsey-based investment vehicle PSF Capital GP II Limited, better known as Pension SuperFund Capital.
SIPP provider STM, the owner of the London & Colonial and Options SIPP businesses, has sold some of its Gibraltar-based businesses for just over £3m.
Carey Pensions, the SIPP firm bought out last year after being hit by a major court case, has been relaunched under a new name, Options.
The Pensions Regulator (TPR) has approved the Carey Workplace Pension Trust as an approved Master Trust for the continuing acceptance of auto-enrolment contributions from the UK market.
STM Group raked in £2.7m in profits from its acquisition of Carey Pensions earlier this year in what it classed as a bargain purchase.
Financial services firm STM has completed its £400,000 takeover of troubled SIPP provider Carey Pensions following the granting of FCA approval for the deal.
International SIPP provider STM Group has predicted it will boost profits this year despite a number of setbacks.
Police have ended their investigation into STM chief executive Alan Kentish, who was arrested in Gibraltar in October 2017, with no further action.
Cross-border financial firm STM, the owner of London & Colonial, is to acquire the majority of rival SIPP firm Carey Pensions for £400,000 as Carey prepares to tackle a major SIPPs court case.
News from Twitter
Articles by Keyword
AJ Bell
AMPS
annuities
Autoenrolment
Barnett Waddingham
Curtis Banks
DWP
FCA
FOS
FSCS
James Hay
Lisa Webster
Mattioli Woods
Pension
pension freedoms
pensions
pension transfers
Platforms
regulation
retirement
retirement planning
Sipp
Sipps
Ssas
Talbot and Muir
The Pensions Regulator
TPR
Webster
websterblog
Xafinity