The owners of independent advice firm Towry have brought forward plans for a sale, according to reports, quashing expectations of a stock market float for now.
Towry's owner Palamon Capital Partners has brought in bankers at Evercore to find new investors, sources told the Sunday Times, and is expected to offload the advice firm early next year. Bids are due before Christmas. A sale would mean Towry's 900 employees - including advisers - would receive a windfall, as they each hold shares in the company alongside Palamon. The decision follows talks about a stock market float, and the adviser could still be listed if the sale talks fail, City sources told the Sunday Times. Palamon declined to comment. Towry serves more than 25,000 clients a...
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