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Mauritius-based Astoria Investments finalizes Kingswood stake sale

Mauritius-based Astoria Investments Ltd.'s sale of its 17.46% stake in U.K.-based wealth manager Kingswood Holdings Ltd. through wholly owned unit Astoria Investments (UK) Ltd. to KPI (Nominees) Ltd. has become unconditional since all precedent conditions for the deal have been satisfied.

The transaction is effective Sept. 4 and the disposal consideration will be settled in cash on the same day.

In July, Astoria Investments (UK) entered into a conditional share purchase agreement with KPI (Nominees) to sell its stake in Kingswood Holdings for a consideration of roughly £2.1 million, or 7.5 pence per ordinary share.