Abrdn has confirmed that it is currently holding discussions with J.C. Flowers & Co over the potential acquisition of Interactive Investor (II).

The company confirmed that negotiations were underway in an announcement on the Stock Exchange, following media speculation that the firm was looking to agree a formal takeover deal within the next fortnight.

The potential deal would reportedly be worth around £1.5bn, according to Sky News.

JC Flowers and Co has owned a majority stake in II since 2016.

The statement from Abrdn said: “There can be no certainty that these discussions will result in a transaction and a further announcement by the company will be made as and when appropriate.”

II had reportedly been making plans to float on the stock market in 2022.

Abrdn recently recorded a 52 per cent increase in its H1 operating profit in 2021, following its successful rebrand from Standard Life Aberdeen earlier this year, which saw Abrdn's brands coming together under one name, in what was expected to be a "key enabler" to drive future growth.

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