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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aegon Ltd | NYSE:AEG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.055 | 0.85% | 6.525 | 6.56 | 6.52 | 6.54 | 461,397 | 15:17:09 |
LONDON--Caledonia Investments PLC (CLDN.LN) said Monday it plans to buy a 94% shareholding in 7IM Holdings Ltd., the controlling member of Seven Investment Management LLP, for up to 77 million pounds ($119.16 million) from Allied Zurich Holdings Ltd. and Aegon U.K. PLC.
Seven Investment Management is a provider of discretionary fund management, retail investment funds and platform services to U.K. investors. At April 30, it had assets under management and administration of GBP9.5 billion.
The acquisition is subject to the Financial Conduct Authority's approval.
Seven Investment Management's management team will subscribe GBP5.0 million for the remaining equity, with the balance of the purchase costs to be provided by GBP25 million of bank debt, which Caledonia has agreed to underwrite in the event that this is not in place by completion.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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