Bailiwick Investments has sold 40.1 per cent of its shareholding in Legis Fund Services to Orangefield. This follows closely on the heels of Orangefield's acquisition of Legis, which was announced last week.
Legis will change its name to Orangefield Legis Fund Services and will continue to be headed by Managing Director Patricia White with Legis Group’s CEO Stuart Platt-Ransom maintaining an involvement. Both will retain a shareholding and, following this sale, Bailiwick Investments' shareholding will reduce to 10 per cent.
David Lowe, Chairman of Bailiwick Investments, said: "The board of Bailiwick is delighted to complete this transaction with Orangefield... and we are pleased to retain an interest in the company. We therefore look forward to working with the management in further developing the business."