LONDON (Alliance News) - Investment company Better Capital PCC Ltd on Wednesday said a vehicle owned by its 2009 portfolio has appointed an administration to Fairline Boats Ltd, a luxury motor yachts company.
The 2009 fund announced a deal in September to sell its stake in Fairline to an unnamed entity which was due to put financing into the company.
But, after that funding failed to materialise, a vehicle owned by the 2009 portfolio has appointed an administrator to Fairline to protect the portfolio's interest as a senior creditor to the company.
Shares in Better Capital closed up 0.7% to 94.445 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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