Augmentum Fintech portfolio firm Farewill to be acquired by Dignity

17th Oct 2024 14:41

(Sharecast News) - Augmentum Fintech responded to the proposed acquisition of its portfolio company Farewill by Dignity on Thursday.

The London-listed fintech fund said Dignity, controlled by Castelnau Group, was set to acquire Farewill, which it described as a digital platform that provides financial and legal services for death and after-death matters.

It said the acquisition remained subject to regulatory approvals.

Under the proposed terms, Augmentum would receive shares in Castelnau Group as consideration for its holding in Farewill.

Augmentum said the transaction was not expected to result in any material change to its net asset value.

The company first invested in Farewill in January 2019, with completion of the acquisition expected to occur after 1 January next year.

At 1422 BST, shares in Augmentum Fintech were up 0.1% at 99.1p.

Reporting by Josh White for Sharecast.com.