Business
Tri-White Corporation announces increase in ownership of Clublink
Tri-White Corporation announces increase in ownership of Clublink.
About this update from Twc Enterprises Limited
[{"type":"text","content":"\n\n\n\nStock Symbol: (TSX: TWH)\n\n\nTORONTO, April 25 /CNW/ - Tri-White Corporation ("Tri-White") announced\ntoday that it has entered into an agreement with 2126521 Ontario Inc. to\npurchase 6,635,300 common shares in the capital of ClubLink Corporation\n("ClubLink") at a price of $13.25 per common share. With respect to the total\nconsideration of $87,917,725, $35,000,000 is to be settled by way of a one\nyear unsecured note, with the balance in cash. The transaction is expected to\nclose June 1, 2007. As a result of the transaction, together with the common\nshares currently owned, Tri-White will beneficially own 11,995,475 common\nshares, representing approximately 70.7% of the issued and outstanding common\nshares of ClubLink. Tri-White is considering various options with respect to\nits holding in ClubLink, including the possibility of making an offer at the\nsame price to the remaining shareholders of ClubLink.\n\n\nTri-White Corporation holds a diverse merchant-banking portfolio and is\npublicly listed on the Toronto Stock Exchange. K. Rai Sahi, Chairman and Chief\nExecutive Officer controls approximately 70% of the outstanding common shares\nof Tri-White. Tri-White is the largest shareholder of ClubLink Corporation,\nCanada's leading owner, operator and developer of high quality member golf\nclubs, with 40, 18-hole equivalent properties in Canada. As well, Tri-White is\nthe largest shareholder of Renasant Financial Partners Ltd., a financial\nservices provider and equipment trading organization, operating throughout\nNorth America and Europe. In addition, Tri-White owns a 100% interest in the\nhistoric White Pass & Yukon Route Railway, with strategic holdings in the port\noperations and supporting excursions, based in Skagway, Alaska.\n\n\n%SEDAR: 00009355E\n\n\n","length":1862,"tagName":"div"}]