Pension SuperFund Capital, which oversees UK commercial pension consolidator Pension SuperFund, has reached an agreement to acquire the parent group of Options Pensions, STM Group, for £35.6m.

The purchase was made through the Pension SuperFund Capital acquisition arm Bidco. It is expected that if the full value is delivered by the deferred consideration units (DCU), the acquisition value could rise to £39.8m, it was announced this morning.

The scheme shareholders will also be entitled to receive 60 pence per share in cash, rising to 67 pence per share if full value is delivered by DCU.

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