Printer Friendly

CA Bancorp completes sale of interest in Charter REIT.

Global Banking News-7 June 2010-CA Bancorp completes sale of interest in Charter REIT(C)2010 ENPublishing -

Global Banking News - 07 June 2010(c)2005 - Electronic News Publishing -

CA Bancorp Inc (TSX: BKP) has said that it has completed the previously announced sale of its units of Charter Real Estate Investment Trust (TSX VENTURE: CRH.UN) to IGW Public Limited Partnership, an affiliate of League Assets Corporation at a price of USD1.45 per unit.

The sale yielded gross proceeds to CA Bancorp of approximately USD8.77m.

In connection with the sale, the agreement dated March 27, 2007 between Charter and CA Realty Management Inc, a wholly owned subsidiary of CA Bancorp, was terminated. CA Bancorp's severance costs in connection with the termination of the management agreement total approximately USD0.69m.

CA Bancorp is a publicly traded Canadian merchant bank and alternative asset manager, which is focused on investments in small- and middle- capitalisation public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Jun 7, 2010
Previous Article:Tri-Valley Bank announces stock purchase agreement terminated.
Next Article:Boston Private plans to raise equity, pay off TARP.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters