Aberdeen acquires Glasgow Investment Managers

The buyout was made through the acquisition, subject to regulatory approval, of Sutherland Holdings, which has a 50.1% interest in Glasgow IM. Aberdeen also intends to purchase the remaining 49.9% in Glasgow from Shires Income plc. The total consideration, to be satisfied in cash, for a 100% interest in Glasgow will be £6.25m plus the value of net tangible assets, estimated at £2.7m. Glasgow manages three investment trusts, Glasgow Income trust, Shires Income and Shires Smaller Companies and also manages funds on behalf of a number of institutional clients. Total assets under management...