Intrinsic To Buy Tenet?

Is Intrinsic in talks to buy Tenet?

Rumours suggest that preliminary talks have begun. Tenet is owned by three life companies: Aegon, Aviva and Standard Life. It is thought that these are ready to sell Tenet.

Intrinsic is owned by Old Mutual Wealth and is said to be on the hunt for acquisitions. Back in 2013 it bought Positive Solutions from Aegon. Intrinsic boss Andy Thompson told the media he had spoken to Tenet, as well as other firms, saying he was always on the look-out for opportunities to grow distribution.

IFA Magazine contacted Tenet and CEO Martin Greenwood said: “Such stories appear on a regular basis but Tenet’s position remains the same: the company does not comment on speculation.”