Business
Dye & Durham announces strategic review of non-core assets to significantly expedite deleveraging plan
Dye & Durham announces strategic review of non-core assets to significantly expedite delevera...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham announces strategic review of non-core assets to significantly expedite deleveraging plan\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Dye & Durham announces strategic review of non-core assets to significantly expedite deleveraging plan\n \n \n Canada NewsWire\n \n \n \n \n \n \n Review to examine ways to generate additional capital to achieve stated goal of total net debt to adjusted EBITDA ratio of four times or less\n \n \n \n \n Review will examine variety of options, including potential sale of all or part of non-core assets, including the financial services infrastructure business\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 13, 2023\n \n \n /CNW/ - Dye & Durham Limited (\"\n \n Dye & Durham\n \n \" or the \"Company\") (TSX: DND), one of the world's largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today announced it has begun a strategic review of its non-core assets to significantly expedite its previously announced plan to reduce its leverage ratio.\n \n \n The strategic review will include the examination of a variety of options intended to generate additional capital to deliver on the Company's stated goal of reducing its leverage to less than four times total net debt to adjusted EBITDA as soon as possible. These options include the potential partial or complete sale of non-core assets, such as the Company's financial services business, among others.\n \n \n \"Despite our strong business performance and liquidity position, we understand our shareholders would like us to reduce our leverage ratio. We strongly believe this strategic review will accelerate this process,\" said Dye & Durham CEO\n \n Matthew Proud\n \n . \"We are working closely with our financial and legal advisors to ensure the review is comprehensive, diligent and maximizes value.\"\n \n \n Dye & Durham has retained Goldman Sachs and Canaccord Genuity Corp. as its financial advisors with respect to the strategic r...