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Equiniti buys govt stake in pension JV for £8m; extends contract

Thu, 27th Sep 2018 07:23

(Sharecast News) - Pensions administration specialist Equiniti said it had extended its contract with the Cabinet Office and buying out the government department's stake in a joint venture for £8m.The contract to administer the civil service pension MyCSP will now run until the end of 2021, Equiniti said.MyCSP is a 51/24/25% joint venture partnership between Equiniti, the Cabinet Office and an employee benefit trust.The employee benefit trust will retain its 25% stake in MyCSP. Equiniti said it expected the deal to be accretive to earnings."MyCSP has made a significant investment in technology and services for public sector pensions administration, and has the experience and scale to operate the largest and most complex of schemes," the company said.The transaction is expected to complete later on Thursday.
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(ShareCast News) - Equiniti: Barclays starts coverage at overweight with a 230p target price; Goldman starts at buy with a 260p target and Credit Suisse initiated. Genel Energy: Credit Suisse reiterates outperform and 430p target; Goldman Sachs downgrades to neutral with 333p target. Dixons Carphon

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7 Dec 2015 13:52

Broker tips: Equiniti, Kingfisher, Next, British Land, Land Securities

(ShareCast News) - Equiniti was "far more" than a registrar and could look forward to profitable growth, a top broker said at the start of the week. It was a leader in growth markets, with the potential addressable market forecast to grow at a compound annual growth rate of 6% over 2014-19, Credit S

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7 Dec 2015 11:03

Credit Suisse starts Equiniti at outperform

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2 Nov 2015 10:21

DIRECTOR DEALINGS: Equiniti Director Buys 31,990 Shares Following IPO

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30 Oct 2015 08:41

Equiniti Shares Below IPO Price As Unconditional Dealings Start (ALLIPO)

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Equiniti Prices IPO At Low End Of Guidance; Ibstock Trades Up (ALLIPO)

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