I'm kinda surprised anyone would get into a quagmire like this for less than controlling interest. Seems you are digging people out of a hole they dug and sullying your name with the aggrieved...for what exactly? Biz was dead in the water so should've been an easy negotiation.
According to the announcement the new investors have a combined 60% stake in the company, the Blacks have 40%.
Quote:
• Who are the new owners of Keith Black Racing Engines?
Mrs Jane Black, (the wife of the late Keith Black), and his son Ken, have sold their business into a new corporation in exchange for a 40% interest. Incoming owners are Darren Beale, Tim Banning, and Victor Bray, together have a combined 60% ownership.
Still lots of potential for trouble tho with no one holding 51%.
