BRIEF-Interactive Investor to buy TD Bank's European Direct Investing unit

Wed Oct 12, 2016 7:18am EDT
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Oct 12 (Reuters) - Interactive Investor Plc

* Interactive Investor Plc agrees to buy TD Bank Group's european direct investing business

* Acquisition will create UK's second largest online stockbroker with assets under administration of 18 billion stg

* Funds advised by J.C. Flowers & Co. Llc to own a majority shareholding in the combined company

* Acquisition of TDDI will be financed through an investment from funds advised by J.C. Flowers & Co. Llc

* Closing is expected in first calendar quarter of 2017, subject to customary closing conditions Source text for Eikon: Further company coverage: