View more on these topics

7IM close to takeover deal with Caledonia

Business-Handshake-Meeting-Deal-Low-Angular-700x450.jpg

A takeover of Seven Investment Management by Caledonia Investment Management is just weeks away, according to reports.

The £9bn wealth manager is in advanced talks with Caledonia over the proposed acquisition, reports Sky News.

More than half of 7IM is owned by Aegon and Zurich Insurance, which Caledonia would be purchasing, with the remainder of the company owned by partners and employees.

Caledonia is a listed investment company, which has a number of fund investments.

7IM wants to find a purchaser that ties in with the wealth manager’s long-term plans, say insiders.

It was reported in February that Aegon and Zurich were eyeing a sale for 7IM, appointing investment bank Evercore to explore the options.

Last month, it was thought private equity firms were in the mix for the takeover, which could value the company at £100m.

Recommended

Dean Julie Cazenove

Sanditon launches UK fund for Julie Dean

Sanditon Asset Management has announced details of the TM Sanditon UK Fund which it is set to launch on 22nd June. The fund, managed by investment manager Julie Dean, will invest in 35 to 65 listed equity securities issued by UK companies. It will sit in the IMA UK All Companies sector. It seeks to achieve returns 2 per […]

Sue McNelly

Coping with cancer — a nurse’s story

According to recent statistics from Cancer Research UK, one in two people* born after 1960 in the UK will be diagnosed with cancer in their lifetime. The good news is that more people than ever are beating cancer. Now 50 per cent survive for 10 years or more*. A cancer diagnosis can be overwhelming, not […]

Antonio-Horta-Osorio-700x450.jpg

Govt commits to Lloyds share sale for retail investors

The Government has committed to launch a sale of Lloyds Banking Group shares to the public in the next 12 months. In an announcement today, the Treasury said further details on the share sale to retail investors will be set out in due course. It comes as the Government reveals it has reduced its holding […]

Mirfin-Dean-CUT-White-620x430.jpg

Key Retirement’s Dean Mirfin takes on technical director role

Key Retirement founding director Dean Mirfin has been given the newly-created role of technical director. Mirfin will provide technical oversight across Key’s core business areas of equity release, retirement income, secured lending and wills and lasting powers of attorney. The firm says it has created the role because of the “wider reaching options and flexibility […]

Abe and Modi

India: Modi, reform and the oil price fall

Nearly 12 months since sweeping to power, prime minister Narendra Modi has overseen a significant turnaround in India, which is now on track to become one of the most pro-growth, pro-investment economies in Asia. While the market has rallied 48 per cent over the last year in response to Modi’s reform agenda, what is the potential for further progress?

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment