London-based business services firm Vistra has received regulatory approval to acquire the Luxembourg-based management company Kroll, following the initial announcement of the deal in December.
Operating in Luxembourg and London, Kroll Manco will fully separate from its parent company by August this year and will operate as a separate entity within the Vistra Luxembourg family of companies, whilst subsequent regulatory permission is sought for a merger with Vistra Fund Management (VFM).
Jan Vanhoutte, VFM’s managing director and conducting officer, and Anil Singh, managing director of Kroll Manco, will lead the expanded business, working together to complete the integration and merger of the two businesses.
Vanhoutte said: “This acquisition makes Vistra a leading player in the Luxembourg market and will help service a wider range of asset classes and fund types.
“It will enable Vistra to deliver its ambitious growth plans, aligning with our strategic vision to enhance funds end-to-end service proposition for investment managers and advisers.”
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