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: Further company coverage: (

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