Resolution Skips Dividends After Q4 Loss

(Reuters) – Financial buy-out firm Resolution (RSL.L) skipped dividends after posting a 700,000 pound ($987,700) loss for the last quarter of 2008, but said it would continue to acquire businesses.

The loss for the period from Oct. 9 to Dec. 31 related to initial operating expenses, Resolution said, after it raised 660 million pounds in an initial public offering in December.

“A number of possible acquisitions are under evaluation for 2009,” the group said in a statement.

The company, founded by entrepreneur Clive Cowdery, plans to make money by buying up financial services businesses in the UK and western Europe, restructuring them, and then listing, selling or demerging them.

It would initially look to acquire life assurance and asset management businesses in the UK, it said. (Reporting by Douwe Miedema; Editing by David Holmes) ($1=.7087 Pound)