Federated Hermes completes acquisition of remaining 29.5% stake in Hermes Fund Managers for £116.5M

FEDERATED HERMES, INC.

Paid £116.5M (~$161.5M) for BTPS's 29.5% interest in HFML, using cash and credit facility.
BTPS no longer holds any ownership or board seat in HFML; remains a client with $12B AUM.
Hedged GBP payment via forward contract: £117.1M at 1.386345, settling $162.3M on Aug 31, 2021.
FHI now owns ~90% of HFML; remaining ~10% held in employee benefit trust.
Option Deed and Shareholders' Agreement terminated upon closing.

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