BRIEF-CIM Financial Services to sell global business activities to SGG Group

Tue Mar 14, 2017 4:55am GMT
 

March 14 (Reuters) - CIM Financial Services Ltd:

* Entered into share sale agreement for sale of its Global Business activities to SGG Participations S.A. (SGG)

* Provisional consideration for the sale based on latest estimates is expected to be about $90.3 million equivalent to about 3.2 billion rupees

* Total consideration receivable from disposal of CGB is made up of provisional consideration, net of working capital adjustments

* Says sale would represent profit on disposal of 2.5 billion rupees or 3.60 rupees per share Source: bit.ly/2mUyPts Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

 
Powered by Reuters AlertNet. AlertNet provides news, images and insight from the world's disasters and conflicts and is brought to you by Reuters Foundation.