Aim-listed asset manager Sigma Capital Group has acquired Inpartnership from Sir Tom Hunter's West Coast Capital investment firm for £347,000.
Edinburgh-based Sigma will pay West Coast 2.17m shares at a price of 16p a share, more than double Friday's closing mid-price of 7.5p. Sigma will also pay a share of the first £10m of development profit generated up to a maximum of £3.1m.
Inpartnership undertakes large-scale regeneration projects, with three partnerships currently with Liverpool City Council, Salford City Council and Solihull Council.
Sigma said Inpartnership gives it "long-term option arrangements for a mix of residential, commercial, education and health opportunities. The total development value of the opportunities is estimated at over £2bn."