Business
Tri-White Corporation completes transaction to increase ownership of ClubLink
Tri-White Corporation completes transaction to increase ownership of ClubLink.
About this update from Twc Enterprises Limited
[{"type":"text","content":"\n\n\n\nStock Symbol: (TSX: TWH)\n\n\nTORONTO, June 1 /CNW/ - Tri-White Corporation ("Tri-White") announced\ntoday that it has completed a transaction 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 was settled by way of a one year\nunsecured note, with the balance in cash. As a result of the transaction,\ntogether with the common shares previously owned, Tri-White beneficially owns\n11,995,475 common shares, representing approximately 70.7% of the issued and\noutstanding common shares of ClubLink. Tri-White is considering various\noptions with respect to its holding in ClubLink, including the possibility of\nmaking an offer at the same 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 now the largest shareholder of ClubLink\nCorporation, Canada's leading owner, operator and developer of high quality\nmember golf clubs, with 40, 18-hole equivalent properties in Canada. As well,\nTri-White is the largest shareholder of Renasant Financial Partners Ltd., a\nfinancial services provider and equipment trading organization, operating\nthroughout North America and Europe. In addition, Tri-White owns a 100%\ninterest in the historic White Pass & Yukon Route Railway, with strategic\nholdings in the port operations and supporting excursions, based in Skagway,\nAlaska.\n\n\n%SEDAR: 00009355E\n\n\n","length":1803,"tagName":"div"}]