It is understood the founders Tom Sheridan and Justin Urquhart Stewart are being kept updated on the valuation and potential sale process being carried out by Evercore on behalf of the two major owners.
A number of interested parties including private equity firms have expressed interest in becoming the new owners of Seven, it is understood.
A deal remains some way off however, given the valuation process is yet to complete. It was said the valuation is relatively complex because there are few comparable firms which offer a platform, discretionary management and funds in a similar fashion to Seven.
A sale can only go through with the consent of the founders due to the way the company was structured when outside shareholders were first introduced.
It is understood the founders are unlikely to agree to a sale to private equity or a bank as it would not make for a good cultural fit.
It was also said that the founders are open to suggestions from Zurich and Aegon however, but the buyer would need to be a party they believe wants a constructive, long-term relationship, rather than any short term profiteering.
Ideally, in the view of the founders, new owners would bring something new to the table such as access to new overseas markets or expertise not already within the business, it is understood.
