Dundee Corporation Announces the Sale of Its Interest in Union Group International Holdings Inc.
TORONTO, Jan. 29, 2019 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A) (the “Corporation” or “Dundee”) today announced the sale of its interest in Union Group International Holdings Inc. (“Union Group”) for total consideration of $14.5 million.
“The sale of our interest in Union Group is an acceptable outcome for our shareholders that provides us with an exit from an illiquid investment as we continue to rationalize our broader portfolio of investments,” said Jonathan Goodman, Chairman and CEO, Dundee Corporation. “We would like to wish our former partners at Union Group all the best as they pursue their growth strategy.”
Proceeds from the sale will be available to Dundee immediately.
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking information with respect to future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The reader is referred to the documents which the company files from time to time with applicable securities and regulatory authorities.
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