OpenLegislation

Division 4.3 Divestiture of the Private Equity business

United Kingdom

Original text. Later amendments are not shown.

FIH will divest its investments in private equity funds and other equity investments to the extent permitted by law as early as possible and in any case not later than 31 December 2016. If a divestment by that date is not possible, the investments will be put in run-off which means in particular that no funding or renewals of investments may take place any moref1. Further, from the date of the Decision, no new private equity or other investments will be made (with the exceptions stated in footnote 3).

Annotations

Footnotes

f1

Does not apply in the ordinary course of the banking business (e.g. if FIH obtains a shareholding through a restructuring or similar of debtors) or if FIH is legally obliged to make such investment.