Dec 15, 2020
Subscribe to our daily newsletter!
Sign Up
Proposed Oak-PraxisIFM merger is off. Pictured are the firm's chief executive officers Stuart Platt-Ransom and Robert Fearis. (29022413)
Negotiations between PraxisFIM Group and Oak Group to bring the two businesses together have ended. The combined group would have had a headcount of more than 700 people in 17 jurisdictions – including hundreds of staff in Guernsey.
On its website, Oak Group confirmed talks had ended with PraxisIFM Group confirming the news in an update to the International Stock Exchange.
‘With a particularly unpredictable global economic backdrop, a number of unspecified hurdles have led to the cessation of discussions. Oak stated however, that it would continue to seek value-enhancing transactions to maintain and enhance its growth parabola into 2021 and beyond,’ said Oak on its website.