Metrics Income Opportunities Trust (ASX:MOT) said Perpetual Trust Services will acquire the remaining shares of Hong Kong-based BC Investment Group (BCI), raising its stake in the non-bank financial services group to 100% from 29.8%, according to a Monday filing with the Australian group.
Perpetual acts as trustee for MCP Credit Trust, a managed investment scheme in which MOT holds a 15.8% indirect interest, the filing said.
The Credit Trust has confirmed it can fund the purchase from its available capital. Upon completion, MOT's exposure to BCI will represent about 1.9% of its net asset value on a pro-forma basis, the filing added.
The transaction includes an initial AU$140.3 million purchase, up to AU$6.9 million in deferred consideration based on BCI's performance, and the refinancing of shareholder loans, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.