London-listed investment trust Caledonia Investments has completed its deal with multi-family office Stonehage Fleming, acquiring a minority stake in the firm.

Originally announced in December 2018, Caledonia has completed its acquisition of a 36.7 percent equity stake in Stonehage Fleming, for £89.3 million.

There is an additional deferred consideration of up to £20.6 million payable dependent on Stonehage Fleming achieving certain financial targets for the years ending 31 March 2020 and 2021.

The deal was structured as part of a tender offer and share buy-back offer made...