Caledonia Hatches Pounds 64m Deal to End Cayzer Feud

Evening Standard - London › March 17, 2004

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Summary

THREE years of feuding between members of the Cayzer shipping dynasty and investment trust Caledonia is set to be resolved at a cost of Pounds 64 million.

Sir James Cayzer was last year at the head of a rebellion by minority shareholders, who wanted to break up Caledonia. Its interests range from merchant banking group Close Brothers to the Sloane Club but the rebels claimed that the investment trust underperformed and its shares traded at too big a discount to the value of its assets.

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Caledonia Hatches Pounds 64m Deal to End Cayzer Feud

Caledonia today announced terms for a form of return of capital to its shareholders, which will allow t...

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