NatWest to Buy Majority Share in Augmentum Fintech's Cushon

By Elena Vardon

Augmentum Fintech PLC on Monday said NatWest Group PLC agreed to buy a majority share in Cushon, a company in its investment portfolio, for 22.8 million pounds ($27.5 million).

The U.K. venture-capital investor expects the transaction for the stake in the workplace savings and net zero pension provider to be completed within the next 12 months.

The deal represents a 46% uplift on the group's 2022 holding value of GBP15.6 million, Augmentum said.

Write to Elena Vardon at [e-mail]

(END) Dow Jones Newswires

02-13-23 1005ET