Apex Group acquires remaining MJ Hudson divisions for £40m

Shareholders will miss out

MJ Hudson has sold its two remaining business operations to Apex Group for £40m, as the embattled firm weighs its future.

Its data and analytics and business outsourcing arms will form part of Apex Group's already established offering, while MJ Hudson's management company services in Ireland and Luxembourg are set to add €80bn in assets under management to Apex Group's existing services. The vast majority of the proceeds from the deal will go towards repaying £33.7m owed to Santander UK, with the firm stating that it was "highly unlikely" shareholders would receive payouts once costs were settled. The group has been plagued by scandal after its CEO Matthew Hudson stepped down earlier this year due to a l...