Tavistock affiliate looks to buy minority stake in Callidus Capital
Braslyn Ltd has submitted a non-binding proposal to acquire the outstanding shares of Toronto-based specialty lender Callidus Capital Corp (TSX: CBL) not already held by it and Catalyst Capital Group. Braslyn proposes to buy the shares for $2 per unit. A Globe and Mail report said this values Callidus at about $114 million, excluding debt. Braslyn is an affiliate of Bahamian private investment firm Tavistock Group. It said Callidus' board has not been successful in privatizing the company and that operations and the stock price have deteriorated. Catalyst said in a statement it does not intend to tender shares to the offer. The Canadian private equity firm owns a 72 percent interest in Callidus.
7 December 2018•2 mins read
