1 April 2021 | 07:39am StockMarketWire.com - Wealth manager Quilter has announced the sale of Quilter International to Utmost for £483 million in a deal that it said will 'simplify' Quilter and focus the group on its higher growth UK wealth management business. The deal, which has been 'unanimously agreed' by the board of Quilter, is expected to complete around the end of 2021. The company expects net cash proceeds from the sale of approximately £450 million after allowing for transaction costs. Quilter chief executive Paul Feeney said: 'It allows us to focus on accelerating our growth and efficiency plans as well as further simplifying and focusing our business around its core UK high net worth and affluent customer proposition. It also gives us the ability to deliver a further meaningful capital distribution to shareholders.