Stagecoach siblings liquidate joint investment business

Brian Souter and Ann Gloag, the brother and sister duo who founded transport giant Stagecoach nearly 40 years ago, have liquidated the joint investment company they also ran together, ending the collaboration.

According to reports, they will now pursue “their own very different investment strategies”.

Documents filed at Companies House show the pair have divided the assets of their Highland Global Transport (HGT) investment vehicle, which was formed in 2012 and as of March 2015 had assets valued at £613 million.

HGT predominantly held stakes in transport companies, including Stagecoach, Alexander Dennis and the New Zealand-based InMotion group.

Its assets were divided between two firms called Souter Investments and Gloag Investment Group around 12 months ago, according to the paperwork.

Sir Brian was chairman of HGT and owned more than 50 per cent but less than 75 per cent of the shares in the business.

Ms Gloag owned more than 25 per cent but less than 50 per cent.

Documents state that the move was made “in order to simplify and consolidate the Souter family investment structure”, although no statement has been made by either Sir Brian nor Ms Gloag, who do maintain joint property interests and stakes in the luxury interiors business, Clive Christian.