GIC, Hellman & Friedman to buy Allfunds Bank
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Singapore
SINGAPORE'S sovereign wealth fund GIC and affiliates of Hellman & Friedman, a private equity investor, on Tuesday announced the signing of a deal to acquire Allfunds Bank, a global financial technology business.
They are buying it from Intesa Sanpaolo Group, Santander Group, General Atlantic and Warburg Pincus. The deal values Allfunds at 1.8 billion euros (S$2.7 billion).
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