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M&G will take a minority stake in digital wealth manager Moneyfarm -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: M&G plc logo is seen on a smartphone in front of displayed same logo in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – British money manager M&G said on Wednesday it has taken a minority stake in digital wealth manager Moneyfarm as part of a broader partnership.

M&A will use Moneyfarm’s technology, digital capabilities and investment guidance to back its own branded proposition.

Although the financial details of this deal are not public, a source who was familiar with the matter told Reuters that Moneyfarm’s funding round valued Moneyfarm between 300 million and 350 million Pounds ($473 Million).

($1 = 0.7407 pounds)

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