Benvest Capital Inc. - Agreement in Principal.MONTREAL--(BUSINESS WIRE)--Jan. 20, 1997--BENVEST (ME: BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ) Benvest Capital Inc. (BCI) announced that it has entered into an agreement in principal with Stephen J. Smith, Chairman and C.E.O. and principal shareholder of The Fitness Company (the "Company") to acquire a 50 percent interest in the Company. The transaction is subject to a number of closing conditions and is expected to close by the end of January. The total investment by Benvest is US$3 million plus a bank guarantee in the amount of US $2.4 million. The Fitness Company, based in New Jersey, U.S.A., operates 66 health and fitness centers on the east coast of the United States The "Eastern Seaboard," or "Atlantic Seaboard" are terms referring to the easternmost coastal states in the United States. They touch the Atlantic Ocean and stretch up to Canada. and employs 1,100 people. A portion of the proceeds of the investment will be used to open additional centers and the balance will be used to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. the interest in the business held by certain outside investors. Benvest Capital Inc. is a publicly traded, emerging merchant bank. Its mission is to build shareholder value through acquiring and nurturing ownership interests in private growth companies led by strong entrepreneurial management teams. Benvest's Series A common shares are listed for trading on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg . CONTACT: Benvest Capital Inc. David Ham Ham, in the Bible Ham, in the Bible, son of Noah. In biblical ethnography, Ham is the father of the nations Cush, Mizraim, Phut, and Canaan. In a story separate from the flood narrative, the legend related in the Book of Genesis and in the Qur'an suggests , 514/ 877-4299 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion