Seneca Investment Managers Limited acquired Miton Capital Partners Limited from Miton Group plc for £6.4 million.
The transaction is subject to the FCA approval and is expected to complete by early quarter 2 of 2014. The cash to be received from the disposal will reduce the Miton Group plc's regulatory capital requirement and fund the continued growth of Miton Group plc. Gay Collins, Reg Hoare, Simon Hockridge and James Morgan of MHP Communications acted as public relation advisors and Guy Wiehahn and Harry Florry of Peel Hunt acted as nominated advisors and broker for Miton Group plc. Sue Inglis of Cantor Fitzgerald Europe acted as financial advisors for Midas Income & Growth Trust PLC.