Nov 23 (Reuters) - 360 Capital Group Ltd (TGP)
- Entered into a transaction to sell 360 Capital Investment Management Limited (CIML) as well as its coinvestment stakes in all funds to Centuria Capital Group
- Deal for $290.7 million
- Group is to provide a $50.0 million vendor loan to Centuria for a term of up to 18 months at an interest rate of 5.0% p.a. Paid monthly
- Post the transaction, group's NTA per security expected to increase about 36.2% from $0.69 per security as at 30 June 2016 to $0.94 per security
- "group intends to fully repay its corporate bonds and be debt free post completion of the transaction"
- Group will also seek securityholder approval at its AGM to buy back up to 48.0 million securities as part of its capital management initiatives
News: CNI 360 Capital Group enters deal with Centuria Capital Group for $290.7 mln
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