Broker Charles Stanley has confirmed that it is in exclusive talks with Panmure Gordon (UK) over the potential sale of its securities division.
The sale, which forms part of Charles Stanley’s new CEO Paul Abberley’s strategic review of the business, will not include the firm’s equity sales trading operations.
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However, Charles Stanley in a statement said that at this stage no assurance can be given that the planned disposal will proceed.
Charles Stanley Securities acts as the nominated adviser to 26 companies with stocks listed on the Alternative Investment Market.
Charles Stanley in March first revealed that it was in exclusive negotiations in relation to a possible disposal of elements of the division. US firm Stifel Financial was understood to be the likeliest buyer of the business.
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