StockMarketWire.com - Caledonia Investments on Friday agreed terms to acquire a 36.7% in Stonehage Fleming Family & Partners for about £92m.

Under the terms of the deal, Caledonia also agreed to pay additional deferred consideration of up to a maximum of £20.6m, should Stonehage Fleming achieved certain financial targets for years ending 31 March 2020 and 2021.

Caledonia had further agreed to underwrite a £30m term loan facility for Stonehage Fleming as part of the funding of the transaction.

The deal, which required regulatory approval in a number of jurisdictions was expected to be obtained within three months, the company said.

'This transaction fits our strategy of investing in well-established private companies, with proven management teams, offering long term capital growth potential, as well as strong cash generation to support an attractive dividend yield,' said Duncan Johnson, Caledonia's Head of Unquoted Investments.

At 10:01am: [LON:CLDN] Caledonia Investments Plc share price was -20p at 2835p



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