Following the announcement on 10 January 2022 that it had bought a minority shareholding in LEBC Group, Tavistock Investments revealed that it has now completed the deal.
Tavistock Investments bought £10m worth of shares from Marie McVitie, the widow of LEBC founder and former CEO Jack McVitie. The firm said earlier this year £6m would be paid upon completion of the deal and the remaining £4m in 12 months' time after the deal was completed. Tavistock added that the deal would give the firm right of first refusal if any of the company's other shareholders want to sell any shares. BP Marsh & Partners, an AIM-listed company, is LEBC Group's largest shareholder and owns 60% of voting rights. Tavistock Investments is also an AIM-listed firm that has 175 ad...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
