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Compass Diversified receives deferred consideration from Manitoba Harvest sale.

Compass Diversified Holdings (CODI) announced that it has received the deferred consideration from the sale of its majority owned subsidiary, FHF Holdings Ltd. to Tilray (TLRY), pursuant to an agreement it entered into on February 19, 2019. Manitoba Harvest shareholders, including CODI, received C$92.5M, comprised of C$50M in cash and C$42.5M in Tilray shares. After the allocation of the sales price to non-controlling equity holders, CODI received approximately C$64M at the deferred date comprised of cash and Tilray shares. These proceeds are in addition to the C$234M CODI received at closing on February 28, 2019, bringing total proceeds from the sale of Manitoba Harvest to C$298M. Manitoba Harvest shareholders, including CODI, will receive an additional C$49M in Tilray shares upon Manitoba Harvest achieving certain performance milestones in 2019, such amount to be reduced to the extent that some or all of the milestones are not achieved.

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Publication:The Fly
Geographic Code:1CMAN
Date:Sep 4, 2019
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