Sealcorp spins off Assirt
Sealcorp has spun off research house Assirt in a complex deal with Course Starter.
Sealcorp has spun off research house Assirt in a complex deal with Course Starter.
Under the terms of the deal Assirt will be housed with the Course Starter services and Sealcorp parent St George will take a stake in the new company.
Initially St George will own 13 per cent of the new group with the option to take its stake to 70 per cent.
The price for the deal has not yet been struck, however, the initial 13 per cent stake represents a $10.1 million cash investment by St George.
St George subsidiary Asgard will keep its close relationship with Assirt through a supplier status.
Course Starter will soon change its name to better reflect the new business struc-ture.
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