Investment trust Caledonia Investments is close to agreeing a deal to purchase a stake in Seven Investment Management, according to reports.
Caledonia, one of the UK's oldest trusts, is close to agreeing a deal which would see it buying a controlling stake in the wealth manager, according to Sky News. The trust would acquire a controlling stake in Seven IM, more than half of which is currently owned by Zurich Insurance and Aegon, with the remainder belonging to its partners and employees. Aegon currently owns a 15% stake and Zurich a near 50% stake in Seven IM. The deal is not expected to see the firm's partners selling their stakes in the company to Caledonia. The boutique business currently manages around £9bn and ...
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