26th Sep 2019 14:35
(Alliance News) - Craven House Capital PLC on Thursday said its subsidiary DLC Holdings Ltd has agreed to acquire Blacktail Mountain Ski Area LLC and Blacktail Mountain Inc in the US.
The investment company - which holds 68% stake in DLC - said Blacktail Mountain Ski and Blacktail Mountain collectively comprise the operating business of the Blacktail mountain ski area in Lakeside, Montana.
DLC will buy both Blacktail firms for USD3.5 million, with payment satisfied through the issuance of 18.5 million DLC shares.
Completion of the transaction remains subject to a number of conditions, including but not limited to receipt of all required shareholder, regulatory and third party consents, Craven House noted.
Craven House shares were trading 3.9% lower on Thursday in London at USD2.00 each.
By Evelina Grecenko; [email protected]
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