Fidelity International to acquire UK personal investing business of Legal & General.

Fidelity International, a funds manager, agreed to acquire UK personal investing business of Legal & General, a financial services company. Financial terms were not disclosed. “This transaction is a positive step for LGIM and particularly for our direct to consumer business. It optimises the strategic fit between two highly-regarded organisations and in particular supports customers, who now gain Fidelity International’s scale and operational capacity in these specific products while continuing to benefit from the LGIM investment expertise which underpinned their original product purchase," Michelle Scrimgeour, Legal & General CEO.