Patria Investments Limited (NasdaqGS:PAX) enter into an agreement to acquire Private equity business from abrdn plc (LSE:ABDN) for £100 million on October 16, 2023. Total consideration will be paid in cash and it consists of upfront consideration £60 million will be paid at the end of the closing, £20 million payable at 24 months from closing and up to £20 million payable at 36 months from closing pending certain performance factors. The initial payment of £60 million will be financed through a bank credit facility maturing 36 months after closing of the transaction. The deferred consideration will be subject to completion adjustments. The transaction is subject to regulatory approvals and expected to close in first half of 2024. N.M. Rothschild & Sons Limited acted as financial adviser, Macfarlanes LLP acted as legal advisor to abrdn plc. Beatrice Lo, James McCrory and Simon J. Tysoe of Latham & Watkins LLP acted as legal advisor to Patria Investments Limited.

Patria Investments Limited (NasdaqGS:PAX) completed the acquisition of Private equity business from abrdn plc (LSE:ABDN) on April 29, 2024.