Standard Life is in talks with SimplyBiz over selling its 10 per cent stake in the support services firm, Money Marketing understands.
Standard is looking to sell its stake back to the SimplyBiz management.
The remaining 90 per cent is owned by SimplyBiz directors with chairman Ken Davy owning in excess of 80 per cent of the firm.
Standard Life declined to comment.
SimplyBiz joint managing director Matt Timmins says: “There has been no change to the current shareholding of SimplyBiz and we remain comfortable with the minority shareholding Standard Life has.”
Standard Life acquired the 10 per cent stake in SimplyBiz in October 2006. Standard also owns 100 per cent of support services firm Threesixty Services.