BRIEF-FCF Capital to acquire majority interest in Dominion Lending Centres

Fri May 13, 2016 9:27am EDT
 
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May 13 (Reuters) - FCF Capital Inc

* FCF Capital Inc signs purchase agreement to acquire a majority interest in Dominion Lending Centres

* Deal for $74 million

* Deal to acquire a 60 pct majority interest in dominion lending centres group of companies

* Deal consideration to be satisfied by issuance of 71.4 million class a shares at $0.175 per FCF share and a cash payment of $61.5 million

* Cash portion of purchase price will be funded by fcf's cash on hand, net proceeds from previous offering of subscription receipts

* Cash portion of purchase price to also be funded by FCF's $20 million demand loan facility provided by bridging finance Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)