Wed, 17 Aug 2011 | BUSINESS SALE
Sigma Capital, the Scottish investment firm, has acquired property regeneration firm Inpartnership.
Edinburgh-based Sigma has purchased the company from Sir Tom Hunter’s West Coast Capital, and the latter will retain a stake in future development profits generated by Inpartnership’s actions. The acquisition has also increased the stake that West Coast Capital owns in Sigma from 20 per cent to 22 per cent.
According to Herald Scotland, Sigma paid £347,000 for Inpartnership, and shares in Sigma have already risen by 26.7 per cent to 9.5p as of yesterday, Tuesday 16 August.
Inpartnership is currently involved in several major property-related regeneration projects taking place across England, including ones in Liverpool, Salford and in North Solihull near Birmingham.
A spokesman for Sigma told the newspaper that the new partnership would allow the projects to progress and that it would ‘provide for the delivery of around 10,000 new homes, a significant number of new retail centres, health (and) medical centres, schools, and (a) mix of retail (and) leisure facilities.”
Sigma also went on to say that of the first £10 million worth of development profit which is generated in the future by Inpartnership’s existing projects it would take a minimum of £6.9 million, whilst West Coast Capital would receive a maximum of £3.1 million.
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