SYDNEY, AUSTRALIA: 360 Capital Group (ASX:TGP) has now entered into an unconditional contract to sell its entire 39.1% co-investment stake and sale of 50% of the management rights in FibreconX.
Total consideration of $26.7 million equates to an IRR of 177% p.a. on original investment of $9.95 million.
This sale generates a pre-tax profit of approximately $16.0 million (7.3 cps) in FY22.
360 Capital Group will now focus on selling its 50% interest in 360 Capital Digital Management Pty Limited, the Investment Manger to Global Data Centre Group (ASX: GDC).
TGP is targeting to complete this sale prior to 31 December 2021.