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Hargreaves Services Plc Acquires Assets From Aardvark Limited


Thursday, 16 May 2013 02:01am EDT 

Hargreaves Services Plc ("Hargreaves") announced that following the appointment of partners in KPMG as liquidators of Aardvark (TMC) Limited ("Aardvark"), on May 15, 2013,Hargreaves has completed a series of transactions that has resulted in it acquiring GBP 10.4 million of assets relating to Aardvark's mining business. The consideration for these assets was met through a combination of cash and settlement against the secured debt. At the time of the liquidation, Hargreaves secured debt amounted to GBP 13.1 million. In total, after costs and expenses, Hargreaves expects to recover approximately GBP 10.1 million of value from its secured debt. 

Company Quote

655.0
15.0 +2.34%
31 Oct 2014