Avance advised the owners of Seligson & Co Fund Management Plc in the sale of a majority of shares to LocalTapiola Group. LocalTapiola has signed agreements that would raise its ownership to 93.9% and the insurance group aims to acquire 100% of the shares.
Seligson & Co was founded in 1997 and currently has approx. two billion euros under management in its funds.
The transaction is still subject to authority approvals.