Global Investments completes disposal of Ascendos Investments

GLOBAL Investments Ltd announced on Friday that the disposal of investment in Ascendos Investments Ltd, via the group's wholly-owned subsidiary BBSFF EU Rail Lessor Ltd, was completed on Thursday.

Ascendos has thereby ceased to be an associated company of Global Investments.

Global Investments said that the consideration amount due to BBSFF in relation to its shareholding in Ascendos is 16.9 million euros (S$25.6 million), which will result in contribution to earnings per share of approximately 0.71 Singapore cent.

Global Investments added that the figures are subject to changes as the consideration is subject to further adjustment in accordance with the provisions of the SPA (share purchase agreement).

The SPA was entered into by BBSFF and the other shareholders of Ascendos Investments on May 12, 2016 for the sale of the entire issued share capital of Ascendos to BRL HoldCo SARL.