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Retail Holdings N.V. (RHDGF) has successfully completed the sale of shares in its indirect affiliate, Retail Holdings (India) B.V., to two UK private equity investors. The transaction is valued at approximately $5.0 million, with around 54.10% of this amount benefiting Retail Holdings shareholders. This sale marks a significant financial advancement for the company, helping to improve its liquidity and investment capacity.
Retail Holdings N.V. (RHDGF) announced the sale of its 57.6% stake in Retail Holdings (India) BV to two UK private equity investors for approximately $5.0 million. This transaction is part of the company’s strategy to maximize asset value and distribute funds to shareholders. Post-sale, Retail Holdings will have no operating assets, with 54.1% of the sale proceeds benefiting its shareholders. The deal is expected to close by year-end, enhancing Singer India’s growth potential through the new investors' expertise.
Retail Holdings N.V. (Symbol: RHDGF) reported its first half 2021 results, highlighting strong performance from Singer India Limited in Q1, which was hindered by COVID-19 impacts in Q2. The company's liquidation strategy is progressing, with the sale of its remaining stake in the India business expected by year-end 2021 or early 2022. Chairman Stephen H. Goodman indicated that while operational losses will continue due to legacy expenses, a distribution of up to $0.50 per share may occur in early 2022, but timing and amounts are not guaranteed. Detailed financial information is available on their website.
Retail Holdings N.V. (RHDGF) reported a net loss of $1.282 million for 2020, down from a profit of $48.287 million in 2019. Revenue from continuing operations fell to $327 thousand from $456 thousand. The loss per share increased to $0.35 compared to a profit of $5.19 in the previous year. The company's divestment program, which started in 2015, has generated $261.8 million in net proceeds, with $38.30 per share distributed to shareholders, including a recent $1.05. The company expects to liquidate remaining assets, including a stake in India, by early 2022.