BANKING group NatWest yesterday sprang a £472 million sterling takeover bid for fund management house Gartmore. The board of Gartmore, which yesterday announced its year end results, has recommended public shareholders, who own 25 per cent of the company, to accept the 250p a share offer.

NatWest Group said it had agreed to buy the remaining 75 per cent from French bank Banque Indosuez, which put its stake up for sale at the end of last year.

Gartmore yesterday announced its pre tax profits for the year to the end of 1995 were almost static at £35.5 million compared to £35.3 million in 1994. Revenue rose 5 per cent to £89.7 million from £85.3 million.