Miller Group, the privately owned Scottish property and construction company, will resolve a long-running family disagreement following the sale of a minority stake to Bank of Scotland Corporate. Financial Times, Daily Telegraph
The deal, for an undisclosed amount, will defuse the dispute between different factions of the Miller family, which had owned about 89% of the company.
Last year, shareholders with 64% of the group had considered the outright sale of their controlling stake.
The company has shareholders’ funds of about £313m and net assets as at June 30 last year of £886.3m.
It is thought that most of these have now remained with the company but that the bank has bought the stakes of the members who wished to pull out. It is not known how large a stake Bank of Scotland has acquired.