It was reported today that L&G has been considering selling off Cofunds and had appointed advisers to seek bidders for the platform – but both companies are silent on the matter.
When contacted by Financial Planner Online L&G said the only statement it would make on the story was “no comment”.
The response from Cofunds, an IFP corporate member, was the same.
In March 2013 Legal & General Group announced that the acquisition of Cofunds was completed.
Legal & General Group acquired the 75% share capital of Cofunds Holdings Ltd, which it did not already own, for £131m.
At that time the acquisition valued Cofunds at £175m.