Bonhill Group PLC - Woking, England-based media company specialising in business information, events and data analytics - Says it now expects to complete the disposal of its US business, InvestmentNews LLC, on or around next Tuesday. InvestmentNews is a New York-based news company for the financial advisory community.
Bonhill is selling InvestmentNews to Key Media Business Information US Inc for USD4.1 million, and raising GBP4.8 million through a tender offer of 48.0 million shares at 10 pence each. After the close of this tender offer, expected on July 18, Bonhill seeks to cancel its shares and re-register as a private limited company. Cancellation is expected on July 31.
Current stock price: 3.95 pence
12-month change: down 34%
By Heather Rydings, Alliance News senior economics reporter
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