Carson Cumberbatch Group enters deal to sell private equity investment arm

24 September 2020 09:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

Guardian Capital Partners PLC (GCP) and its immediate parent Ceylon Guardian Investment Trust PLC (CGIT) — units of Carson Cumberbatch Group — yesterday said they had entered into a share sale and purchase agreement (SSPA) with Gazelle Asset Management Pte Ltd, for the sale of 21.6 million shares or an 84 percent stake held by CGIT in GCP to Gazelle. 


GCP is a specialised private equity company. Gazelle is an asset management company incorporated in Singapore in 2010 and is unrelated to Carson Cumberbatch Group of Bukit Darah PLC. 


A stock market filling said the purchase consideration per share would be determined based on the net asset value of the company, as at a date mutually agreed by the parties, prior to the transaction plus a premium of Rs.40 million.


As at June 30, 2020, GCP’s net assets per share stood at Rs.28.11, up from Rs.27.45 a year ago.

The GCP share closed at Rs.30.10 yesterday, down 90 cents or 2.9 percent. For the financial year ended March 31, 2020 (FY19/20), GCP reported a net loss of Rs.13 million. The company’s total assets stood at Rs.687.7 million. 


Meanwhile, yesterday’s stock market filing said the transaction is subject to certain conditions precedent contained in the SSPA. 


The company will call an Extra Ordinary General meeting to obtain the shareholder approval for the deal. NDBIB acted as the sole financial advisor to the transaction.

 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Employees’ health and safety our top-most priority - Brandix

When inquired, Brandix Apparel Limited said that health and safety of employe

“Workers who fainted had water sprinkled on their faces and had to work again”

Health authorities believe the first reported Covid-19 infected worker from t

“Social media ruined us” - husband of Minuwangoda Brandix factory worker

The Minuwangoda Brandix factory worker who first tested positive for Covid-19

Last rites far from home

The body of the Sri Lankan migrant worker Bandu who died of coronavirus in Du

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.