Utmost Group of Companies entered into an agreement to acquire Quilter International Limited from Quilter plc (LSE:QLT) for approximately ?480 million on April 1, 2021. In 2020, Quilter International generated revenue of ?1.6 billion, profit before tax of ?57 million and profit after tax of ?56 million. Transaction is subject Quilter plc shareholder approval, customary regulatory approvals in the Isle of Man, Ireland, Hong Kong, Singapore and the Dubai International Financial Centre, and anti-trust approval from the European Commission. Board of Directors of Quilter plc unanimously approved the transaction. As of June 17, 2021, the EU approved the transaction. As of November 12, 2021, all regulatory approvals were received. Completion of the Transaction is expected later this year. An allocation from these net cash proceeds is expected to be applied as a contribution from Quilter International to Quilter?s Full Year 2021 dividend on a pro rata basis to earnings for calendar 2021. Richard Cormack, James Lucas and Warren Stables of Goldman Sachs International and Anna Franekova, James A. Kelly and Thembeka Mgoduso of JP Morgan Cazenove acted as financial advisors and Allen & Overy LLP is acting as legal adviser to Quilter plc. As of December 1, 2021 Appleby served as a legal advisor to Quilter plc (LSE:QLT). Utmost Group PLC completed the acquisition of Quilter International Limited from Quilter plc (LSE:QLT) for ?480 million on November 30, 2021. Quilter intends to retain ?90 million of these proceeds to fund its simplification plans and to undertake selected investment to support longer-term revenue generating initiatives. Quilter is currently minded to return the remaining ?350 million to shareholders.