Fox Williams advised Nucoro Holdings Limited on the corporate and commercial aspects of the agreed sale of its subsidiary Exo Investing Limited to abrdn plc. The sale was agreed on 9 August 2021 and is expected to complete in Q4 2021.
Exo Investing is an AI-driven wealth management platform. The acquisition will help abrdn develop an industry leading technology solution for investors, powered by the Nucoro platform, with abrdn and Nucoro to work together to deliver the proposition to customers.
The Fox Williams team, led by corporate partner Guy Morgan, comprised corporate partner Mary Elliott, senior associate Bethany Silkin and associate Stephanie Tsang; commercial partner Nigel Miller; tax partner Emma Bailey and tax director Joanne Varia; and financial services regulatory partner Chris Finney.
Lennart Asshoff, CEO of Nucoro, said: “This has been a tremendous work effort and I am very happy with the work ethic and professionalism everybody at Fox Williams has shown during the process. This would not have been possible without them and I am amazed by their dedication and organisation.“
Guy Morgan, corporate partner, said: “We were delighted to work with Nucoro on the sale of their subsidiary, Exo Investing. The transaction needed to be agreed within a very short time frame, so it was fantastic to deliver on our client’s expectations whilst showcasing our expertise in the fintech sector.”
abrdn plc was advised by Burness Paull LLP.