GLI Finance to acquire additional stake in Sancus IOM for £476,238

GLI Finance has announced on Friday that its wholly owned subsidiary, Sancus BMS Group Limited, agreed to acquire an additional 6.2% stake in Sancus IOM Holdings for a total consideration of £476,238.

The leading investor in the alternative finance sector said the transaction will see Sancus BMS acquire the remaining ordinary shareholdings in Sancus IoM of the CEO of GLI Andy Whelan, and John Davey, the executive director of Sancus BMS and Sancus IoM.

As a result, Sancus BMS's shareholding in the business would rise to 29.3%, allowing GLI to further benefit from the growth of the Sancus IoM business as it continued executing its strategy.