Bonvests to dispose of 10% stake in Cordlife for $43.3 mil

SINGAPORE (July 1): Bonvests Holdings’ wholly-owned subsidiary, Coop International, has entered into a conditional sale and purchase agreement with China’s Nanjing Xinjie Kou Department Store to sell 10% of its stake in healthcare company Cordlife Group for a cash consideration of $43.3 million.

In a Friday announcement, Bonvests says the disposal will reduce its stake in Cordlife from 11.2% to to 1.2%, bringing its tangible assets per share from $2.15 to $2.17 assuming completion of the disposal on Dec 31, 2015.

The group’s consolidated earnings per share will increase from 12.14 cents to 18.90 cents assuming the disposal was completed on Jan 1, 2015.

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