XPS PENSIONS GROUP PLC XPS Pensions Group PLC - Reading, England-based pensions consulting and administration firm - Enters into an option deal to sell XPS Pensions Ltd to SEI Master Trust, for up to GBP42.5 million. XPS Pensions is the principal employer and scheme funder of the National Pensions Trust. Says the deal creates a strategic partnership between XPS and SEI, under which XPS will "provide wide ranging services to continue to support NPT and SEI".
Co-Chief Executive Officer Paul Cuff says: "We are delighted to announce the agreement we have reached with SEI, which will create a market leading master trust for the benefit of our clients and their members. Under the partnership we have agreed, both firms will be bringing the best of what we each do to continue this exciting journey."
The SEI Master Trust provides a pension scheme for employers delivering contribution schemes.
Current stock price: 187.00 pence each, up 1.1% on Friday morning in London
12-month change: up 44%
By Xindi Wei, Alliance News reporter
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