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.