28th Aug 2018 12:23
LONDON (Alliance News) - Tau Capital PLC said on Tuesday it has agreed to sell its remaining 40% stake in Kazakh pharmaceutical distributor Stopharm LLC for USD1.2 million.
The holding is being to sold to Kazakh citizen Aldar Beisembayev, the company said.
The price, Tau said, represents an approximate USD4.8 million impairment to the carrying value of Stopharm of around USD6 million, as reported in its results for the six months ended June 2017. This impairment will be included in 2017 results, which will be published "as soon as possible".
Shares are currently suspended from trading in London as the company has not yet published these results.
Related Shares:
TAU.L