💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

BRIEF-Berkshire Hathaway announces agreement to invest in Home Capital

Published 2017-06-22, 09:14 a/m
© Reuters.  BRIEF-Berkshire Hathaway announces agreement to invest in Home Capital
BRKa
-

June 22 (Reuters) - Berkshire Hathaway (NYSE:BRKa) Inc BRKa.N

* Berkshire hathaway announces agreement to invest in home capital

* Berkshire hathaway - columbia insurance company to make initial investment of c$153.2 million to acquire 16 million shares of home capital group on private placement basis

* Berkshire hathaway inc - berkshire will not be granted any rights to nominate directors of home capital

* Berkshire hathaway - columbia insurance co also agreed to make additional investment of c$246.8 million to buy about 24 million common shares of home capital

* Berkshire hathaway - concurrently with execution of investment agreement, home capital agreed to enter into new c$2 billion loan facility with wholly-owned subsidiary of berkshire

* Berkshire hathaway says new credit agreement will replace c$2 billion loan facility made as of may 1, between home trust co, and major institutional investor

* Berkshire hathaway - columbia insurance co's new investment along with its initial investment, would represent about 38.39% equity stake in home capital

* Berkshire hathaway - for as long as it owns more than 25% of outstanding shares it will be entitled to vote shares representing 25% of outstanding shares

* Berkshire hathaway - unit to acquire 16 million common shares of home capital, representing about 19.99% equity stake in home capital on a post-issuance basis

* Says common shares of home capital group inc will be acquired for investment purposes

* Berkshire hathaway inc - initial investment will not require approval of home capital's shareholders and is expected to close on june 29, 2017 Source text for Eikon: ID:nBw8SQFvGa Further company coverage: BRKa.N

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.