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Sigma Capital Group

  • BY: Andrew Hore |
  • POSTED: 15/08/2011 |

Asset manager Sigma Capital Group has acquired property regeneration projects developer Inpartnership Ltd from Sir Tom Farmer’s West Coast Capital and HBOS for £347,000 in shares.

The shares are being issued at 16p each. The current share price is.9.5p - up 2p on the day. WCC will own 22% of Sigma. WCC is also entitled to a share of future development profits from Inpartnership’s property developments.WCC will receive £3.1m out of the first £10m profit. WCC will receive 10% of any further profit from existing developments.

Inpartnership has offices in Manchester and Birmingham and has partnerships with Liverpool City Council, Solihull Metropolitan Borough Council and Salford City Council. The development value of the possible projects is £2bn. Inpartnership lost money in the year to March 2011.

Sigma expects to report much better interim figures for the current year. The business is profitable.

John Hamilton and Gwynn Thomson, who work for the property business, have been appointed to the Sigma board.

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