BusinessBusiness RecoveryPwC handling multiple bids for Keydata

PwC handling multiple bids for Keydata

Administrators prepare to sell investment company with £3bn under management

Administrators at PwC have received multiple bids for Keydata Investment
Services, the investment company with £3bn under management, according to
reports.

PwC partners Dab Schwarzmann and Mark Battern, who took over Keydata on
Monday after it was placed into administration by the Financial Services
Authority over a £5m tax liability.

Jubilee Financial products and investment busibess Opal and two of the
bidders, according to the Financial Times.

the tax liability arose because Keydata sold individual savings accounts that
were not compliant with investment rules.

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